Microsoft sinks 4%; Dow ends lower: Check top stock movers in the US market
Share Market Today In The US
U.S. stocks fell on Tuesday, with the S&P 500 closing 0.92% lower. Worries over global economic growth hurt investor appetite for risky assets. Investors also awaited important June inflation data. The Dow Jones dropped 0.62% to 30,981.33, while the S&P 500 slid 0.92% to 3,818.80. The Nasdaq Composite fell 0.95% to settle at 11,264.73.
Top Gainers and Losers in US Stock Market Today
Airbnb jumped 2%: Airbnb share price rallied after Jefferies reissued a "buy" rating and set a $160.00 price target citing stable growth.
Amazon fell 2%: Amazon share price fell ahead of inflation data release, expectations of weak growth in online sales.
ARK Genomic Revolution ETF gained 2%: ARK Genomic Revolution ETF ended higher following the gains in pharma, innovation & growth stocks amid broad weakness in the market.
ARK Innovation ETF climbed 2% up: ARK Innovation ETF gained on the back of rise in underlying growth stocks such as Zoom, Roku and UiPath.
Atlassian fell 9%: Atlassian fell over weak business forecast for cloud business over strong US dollar, inflation, rising interest rates, and the war in Europe.
Cloudflare sank 9%: Cloudflare shares fell along with other cloud based stocks over weak business forecasts due to strong US dollar, inflation, rising interest rates, and the war in Europe.
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF fell 5%: Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X ETF fell on the back of weakness in energy stocks ahead of inflation data amid recession concerns, earnings release by big banks.
Ford rose 2%: Ford share price rallied over news around increase in position by a number of hedge funds and other institutional investors including Lawrence's latest $5.53 Million investment.
Freshworks sank 12%: Freshworks stock fell sharply over news around a director selling stocks in the open market.
Global X Lithium & Battery Tech ETF fell 3%: Global X Lithium & Battery Tech ETF ended lower over negative momentum in underlying stocks such as Albemarle, SQM etc.
Invesco NASDAQ 100 ETF ended 1% lower: Invesco NASDAQ 100 ETF fell tracking the weakness in Nasdaq index ahead of inflation data amid recession concerns, earnings release by big banks.
Invesco QQQ Trust Series 1 ETF fell 1%: Invesco QQQ Trust Series 1 ETF fell following the weakness in Tech stocks ahead of inflation data amid recession concerns, earnings release by big banks.
Microsoft dropped 4%: Microsoft fell sharply post news around cutting 1,800 jobs in an org-wide restructuring, quarterly earnings to be announced today.
Nu Jumped 5%: Nu shares rallied after positive review by analysts after the fintech firm took step to optimize funding costs,
ProShares Bitcoin Strategy ETF fell 6%: ProShares Bitcoin Strategy ETF Fell sharply tracking the fall in Bitcoin prices and trading volumes.
ProShares UltraPro S&P 500 ETF lost 3%: ProShares UltraPro S&P 500 ETF ended lower amid weakness on wall-street ahead of inflation data amid recession concerns, earnings release by big banks.
Salesforce sank 5%: Salesforce fell sharply over negative business outlook for cloud computing companies due to enterprise project delays and a strong dollar.
Snowflake lost 6%: Snowflake fell sharply over weak business forecasts for cloud based businesses due to enterprise project delays and a strong dollar.
SPDR S&P 500 ETF fell 1%: SPDR S&P 500 ETF fell amid the weakness on wall-street ahead of inflation data amid recession concerns, earnings release by big banks.
Square gained 3%: Square shares rose ahead of earnings release by large banks, anticipation of favorable lending growth.
Twitter rose 4%: Twitter shares jumped as the company sought four-day trial in mid-Sept over $44 bln Musk deal.
Vanguard S&P 500 ETF lost 1%: Vanguard S&P 500 ETF fell tracking the weakness on wall-street ahead of inflation data amid recession concerns, earnings release by big banks.
Vanguard S&P 500 Growth ETF lost 1%: Vanguard S&P 500 Growth ETF fell on the back of weakness on wall-street ahead of inflation data amid recession concerns, earnings release by big banks.
WeWork shot up 6%: WeWork gained sharply after Fidelity Investments declared a new position in the stock, now owns 11.1% of a flexible office company.
What happened in the US stock market?
Dow down 0.62%, SP 500 fell 0.92%, Nasdaq ended 0.95% lower.
What led US stocks downward?
U.S. stocks tumbled on Tuesday as worries over global economic growth dented investor appetite for risk assets and Wall Street braced for June inflation data.
What happened to big tech stocks?
Salesforce and Microsoft each fell more than 4% while Netflix and Alphabet shed more than 1%. Amazon dropped more than 2%.
Any bright spot in the US stock market?
Airline stocks rallied on Tuesday after American Airlines gave a robust sales guidance. American Airlines jumped 10%, while United, Delta, and Southwest climbed about 8.1%, 6.2% and 4.6%.