US indexes fell today as Big Tech, led by Netflix, declined amid weak data from China.
Last night, economic data from China came in posting the country’s weakest growth in almost 27 years amidst the ongoing US-China trade war. China’s economy grew 6% in the third quarter–a figure that was less than expected, posting its weakest growth in nearly three decades.
Netflix shares plunged more than 6%, Amazon fell 2%, while Alphabet is down 0.9%. Boeing slid 3% while Johnson & Johnson fell 4.8%–both components dragging down the Dow.
On the bright side of things, the Q3 earnings reporting season is still off to a strong start. AMong the 70 S&P 500 companies that have reported results, 81% of them have beat analyst expectations.
The Dow fell 205 points today, down 0.8%, the S&P 500 slid 0.5%, and the Nasdaq pulled back 1.1%.
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