U.S. stocks continued to fluctuate sharply on Tuesday amid the gloom of economic recession and interest rate hikes.
The Dow slumped more than 500 points and then stabilized before closing in reverse.
Communication software Snap warned that its quarterly results would be worse than expected, and its stock price fell 40%, dragging down a number of technology stocks, with the Nasdaq dropping more than 2%.
The Dow was at 31,928 points, up 48 points or 0.15%; the benchmark index was at 3,941 points, down 32 points or 0.81%; the Nasdaq Composite was at 11,264 points, down 270 points or 2.35%.
Shares of Snap tumbled 43.08% after warning of lower-than-expected revenue this quarter, triggering industry concerns about a decline in digital advertising revenue.
Meta fell 7.62% and Alphabet fell 4.95%.
Other major technology stocks were also dragged down, with Apple down 1.92%, Microsoft down 0.4%, Tesla down 6.93%, NVIDIA down 4.4%, and Amazon down 3.21%.
US stocks | Nasdaq fell 3.7%, Snap plummeted 40%, Hong Kong stocks fell below 20,000 points in the night, SNAP US stocks fell more than 30% after hours, expected Q2 results to be worse than expected and slowed down recruitment Tesla is no longer ARKK's largest position Roku becomes Cathie Wood " The new favorite "Technology female god Cathie Wood fell from the altar in less than two years?
U.S. retail leader has not stopped falling, Walmart's share price has dropped 20% in three days, hitting a two-year low
