Market Recap – October 26th
On Thursday’s trading day, markets continued its recent trend of losses as corporate earnings and tech troubles promulgated uncertainty for investors. The Nasdaq, the index that is known for being “tech-heavy”, has fallen over 12% since its July highs. For the main indices, the S&P 500 dropped 1.18%, the NASDAQ Composite went down 1.76%, and the Dow Jones fell 0.76%. Two individual stocks that fell deeper in the red were telecom giant Comcast and popular shipping company UPS. Stock from Comcast plummeted 8.42% after it reported a major loss to high-speed broadband subscribers and weak advertising revenue from NBCUniversal. American shipping company UPS had its stock fall 5.93% after its third-quarter earnings report, detailing weaker-than-expected revenues and lower guidance for the fourth quarter.
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I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.