From CNBC · Sean Conlon,Hugh Leask,Justina Lee,Paulina Likos · · 2m
Dow drops 100 points as tech stocks fall
Dow loses 100 points, S&P 500 snaps 3-day advance as Alphabet and Caterpillar tank.
In brief
Dow loses 100 points, S&P 500 snaps 3-day advance as Alphabet and Caterpillar tank. Dow Jones Industrial Average fell 132.54 points to 52,342.56, S&P 500 ended at 7,720.39 after snapping a three-day gain, with Alphabet down 12% and Caterpillar sliding 9%. Originally reported by CNBC.
Stocks fall
The Nasdaq Composite shed 1.38% to end at 26,184.72, while the S&P 500 slipped 0.3% to close at 7,720.39 and snapped a three-day advance.
Alphabet slumps
Alphabet lost 12% after missing earnings expectations and reporting negative free cash flow of $9.07 billion.
Caterpillar drops
Caterpillar slid more than 9% despite reporting better-than-expected revenue and earnings for the third quarter.
Microsoft dips
Microsoft reversed its initial advance after growth in Azure cloud infrastructure helped earnings and revenue beat analyst estimates.
AI stocks struggle
AI stocks, including the iShares Semiconductor ETF (SOXX) and Roundhill Memory ETF (DRAM), fell more than 1% and 4% respectively.
Fed holds rates
The Federal Reserve held interest rates steady, with inflation remaining elevated but more information needed before further action.
S&P sectors split
Seven out of 11 S&P 500 sectors rose, with real estate up 2.1% and healthcare rising 1.9%.
Eli Lilly surges
Eli Lilly rose 8% after strong third-quarter results and raising full-year revenue guidance to $91 billion to $92 billion.
Volkswagen slumps
Volkswagen reported a $6.6 billion loss amid Chinese market weakness and U.S. tariff costs.
Carlsberg sales drop
Carlsberg reported a decline in beer sales as consumers across all generations moderated alcohol consumption.
Airbus mixed results
Airbus reported revenue of $19.5 billion but missed sales expectations, with a confidence boost in meeting its delivery target.
Shell profits double
Shell reported better-than-expected profit and record refining margins, doubling its quarterly share buyback program.
Renault sales drop
Renault reported a 6% drop in third-quarter car sales despite rising electric vehicle adoption.
Samsung profit steady
Samsung reported third-quarter profit in line with estimates amid rising demand for AI memory chips.
Market reactions
Most S&P 500 sectors traded in the green, with real estate and healthcare leading gains.
Market close
The three major U.S. indexes ended Thursday's session in the red, with the S&P 500 down 0.3% and Nasdaq down 1.38%.
In short
Dow Jones Industrial Average fell 132.54 points to 52,342.56, S&P 500 ended at 7,720.39 after snapping a three-day gain, with Alphabet down 12% and Caterpillar sliding 9%.
