Instant News and Commentaries
Nasdaq Closes Down ~1% as US May Reportedly Curb Software Exports to CN; Netflix Plunges 10%
US Treasury Secretary Scott Bessent confirmed that the White House is considering restricting the export of products made with US software to China. The market was concerned about escalating US export restrictions to China, compounded with disappointing corporate earnings, leading to a slide in US stocks on Wednesday.

The DJIA rested at 46,590, down 334 points or 0.7%; the S&P 500 fell 35 points or 0.5%, to 6,699; and the Nasdaq dived 213 points or 0.9%, to 22,740.

Texas Instruments (TXN.US) reported earnings miss and lowered its quarterly guidance, causing its stock price to slip 5.6%, exerting pressure on the semiconductor sector broadly. Netflix (NFLX.US) plunged 10% due to earnings miss amid a dispute with Brazil's tax authorities.

AT&T (T.US) logged below-expectation revenue last quarter, but the addition of wireless subscribers was strong. The stock price lost 2%.
~



AASTOCKS Financial News
Website: www.aastocks.com

 

Information Provided by [Disclaimer]