The New York Stock Exchange ended sharply lower on Tuesday as investors worried about slowing global economic growth and a more aggressive policy from the US Federal Reserve (Fed) to fight inflation. Alphabet (- 3.04% to 2,373) and Microsoft (- 3.74% to 270.22) thus dragged the Nasdaq down, as did Meta (Facebook, - 3.23% to 180.95) which will present its results on Wednesday, or Apple (- 3.73% to 156.8) and Amazon (- 4.58% to 2,787.82), which will announce them on Thursday.
Of the 102 S&P 500 companies that have reported earnings so far (as of Monday evening), 77.5% have exceeded analysts' expectations (vs. 66% on average) according to Refinitiv data.
The VIX volatility index soared 20% to 32.38 points, well above its 200-day moving average (21).
General Electric (-10.34% to 80.59) expects full-year profit at the low end of its January forecast due to continued supply issues and rising freight and shipping costs. raw materials.
3M (- 2.95% to 144.22) reported quarterly earnings above expectations, at 2.65 dollars per share while the Refinitiv IBES consensus gave it at 2.31 dollars.
Pepsico (-0.25% to 173.3) reported better-than-expected quarterly revenue and raised its full-year guidance on buoyant demand for its products .
The action of the social network Twitter (- 3.91% to 49.68) was up slightly in the first trading before the stock market the day after the announcement of the green light from the board of directors to the offer of purchase of Elon Musk, which allowed him to finish up 5.7%, but it remains below the price of this offer (54.20 dollars).
Warner Bros. Discovery (-7.77% to 19.83) published a quarterly turnover up 13% for its first results since the merger between Discovery and the media assets of AT&T for $43 billion.
UPS (-3.48% to 183.05) saw its adjusted profit increase in the first quarter, the parcel delivery group has taken advantage of the dynamism of online commerce to raise its prices.
Raytheon Technologies (-0.42% to 99.19) lost about 1% in pre-market trading, the aerospace and defense group having lowered its annual sales target due to the cessation of its activities in Russia.
The health insurer Centene (- 3.51% to 81.88) raised its annual forecasts for turnover and earnings per share above the Refinitiv consensus after a better than expected first quarter.
Valero Energy (+ 4.26% to 105.14) reported a profit in the first quarter, at $905 million, against a loss of $704 million over the corresponding period last year.
Whirlpool gained 4.63% to 187.16, despite lowering its full-year revenue and profit guidance due to slowing demand.
The Dow Jones lost 2.38% to 33,240.18 points, the Nasdaq Composite 3.95% to 12,490.74 points and the S&P 500 2.81% to 4,175.20 points.