Tech Shares Stumble After-Hours on Apple, Amazon: Markets Wrap
- Nasdaq heavyweights drop more than 4% in late trading
- Treasury curve inverts at long-end amid global flattening
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Tech shares faltered in late trading after results from Amazon.com Inc. and Apple Inc. fell short of expectations, marring what had been a strong earnings period for heavyweights in the sector.
The biggest exchange-traded fund tracking the Nasdaq 100 slid 0.7% as of 4:35 p.m. in New York, after Amazon warned its holiday profit could be zapped by higher costs and Apple’s sales missed forecasts. The online retailer lost 5% and the iPhone maker dropped 4.8%.