Stocks decline as technology sector weighs on market

[Yo_Mama_Been_Loggin]

Stocks fell Thursday as technology shares led a broad market decline. Investors also pored over the latest batch of corporate earnings results along with comments from the top European Central Bank official.

The Dow traded 150 points lower, while the S&P 500 pulled back 0.5%. The Nasdaq lagged, sliding 0.9%.

The S&P 500 technology sector dropped 0.9%, while the 10 other sectors also traded lower. Tech-related stocks like Amazon and Alphabet slid 0.8% each ahead of their quarterly earnings reports after the bell.

Facebook shares fell more than 2% after CFO David Wehner said in a conference call the company expects revenue to fall “sequentially” going forward. “We also expect more pronounced deceleration in the fourth quarter and into 2020, partially driven by ad-targeting related headwinds and uncertainties,” he said.

Wehner’s comments overshadowed stronger-than-expected results for the second quarter.

https://www.msn.com/en-us/money/markets/stocks-decline-as-shares-of-ford-and-boeing-tumble/ar-AAEMDST

[Joe941]

1. This is tRumps economy - he owns it.

[elleng]

2. Now:

S&P 500
-0.38%
Dow
-0.44%
Nasdaq
-0.76%

[onethatcares]

3. what kind of gobbledeeeegooook is this?

“We also expect more pronounced deceleration in the fourth quarter and into 2020, partially driven by ad-targeting related headwinds and uncertainties,” he said.

[Javaman]

4. translation: expect the market to continue to tank. nt

[Yavin4]

7. They can no longer sell user data willy nilly

esp. in Europe.

[ck4829]

5. Kick

[Yavin4]

6. Now that Tech companies are facing global restraints on user data, their stocks are falling.

That speaks volumes about their business model.