Stocks get whacked after Tencent’s rare profit decline raises growth concerns
|08/15/2018||Posted by BusinessMediaguide.Com under General World News||
Stocks fell Wednesday after the Chinese technology giant Tencent reported a rare profit decline. Technology and energy companies took the biggest hits following the disappointing earnings report, which stoked fears of slowing growth. The dollar rose, and Treasury yields fell.
Here’s the scoreboard:
Dow Jones industrial average: 25,161.45 −138.47 (-0.55%)
S&P 500: 2,818.98 −20.98 (-0.74%)
Nasdaq Composite: 7,774.93 −95.96 1.22%)