Dow tumbles more than 250 points at open as investors face earnings deluge [MarketWatch]
Meta Platforms, Inc. - Class A (FB)
Last meta platforms, inc. - class a earnings: 4/29 04:05 pm
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Source: MarketWatch
U.S. stocks fell at the opening bell on Thursday as investors sifted through a stream of earnings reports from blue-chip companies, looking to understand how executives dealt with the upheaval resulting from the COVID-19 pandemic. The S&P 500 was down 0.7% to 2,918. The Dow Jones Industrial Average tumbled 263 points, or 1.1%, to 24,371. The Nasdaq Composite was down 0.1% to 8,905. Economic data underlined the disruption to the once-robust labor market, with initial U.S. jobless claims surging by another 3.8 million last week. Economists estimate the unemployment rate is now above 15%, since the coronavirus outbreak forced businesses to shutter and workers to stay home in mid-March. In company news, shares of Facebook Inc. rose 5.7% despite earnings falling short of Wall Street estimates.
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