Tech Falls in Late Hours as Earnings Underwhelm: Markets Wrap
- Tesla shares slide after profit miss, Robotaxi event delay
- Alphabet retreats as its chief signals patience needed
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The start of the “Magnificent Seven” earnings season failed to impress investors after a powerful rally that drove the US stock market to a record-breaking run.
A $290 billion exchange-traded fund tracking the Nasdaq 100 (ticker: QQQ) dropped in late hours. Alphabet Inc. retreated despite posting revenue that beat expectations. The company’s chief signaled investors will have to be patient to see concrete results from artificial-intelligence investments. Tesla Inc. slid after profit fell short of estimates and the electric-vehicle giant delayed its Robotaxi event to October.