Economics

Reprieve for U.S. Stocks Hits Wall on Amazon, Alphabet Earnings

SPDR S&P 500 ETF falls 2.1% in pre-market, Nasdaq ETF down 4%
Amazon.com, Alphabet sink in pre-market following earnings

Pedestrians pass in front of Wall Street near the New York Stock Exchange on Oct. 22. — Pedestrians pass in front of Wall Street near the New York Stock Exchange on Oct. 22.
Photographer: Michael Nagle/Bloomberg

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By Matthew Burgess and Jon Menon

October 25, 2018 at 10:34 PM UTC

Updated on

October 26, 2018 at 9:58 AM UTC

This article is for subscribers only.

The reprieve for U.S. stocks is looking brief.

December contracts on the S&P 500 Index were down 1.4 percent as of 05:49 a.m. in New York after the underlying gauge rallied from a six-day slide. Contracts on the Nasdaq 100 and Dow Jones Industrial Average were down 2.5 percent and 1.2 percent, respectively.