The Dow fell 320 points from yesterday's record close, the S&P 500 fell 0.4%, and the Nasdaq fell 0.9% as markets digested a mix of earnings reports and new trade risks after Reuters reported the White House was considering restrictions on exports to China made with U.S. software. Netflix plunged 10% after its performance was impacted by a tax dispute in Brazil.
Tesla fell 1.4% ahead of its earnings report following news that some newly assembled vehicles could experience sudden battery power loss. On the earnings front, TI fell 5.9% on disappointing forecasts, weighing on other semiconductor stocks including Intel (-3%), AMD (-3.9%), and Micron (2.1%).
On the positive side, Raytheon Technologies extended its 2% rally after releasing strong third-quarter results, raising its full-year forecast and reporting double-digit sales growth in its defense segment, while Intuitive Surgical surged 14.2% following strong results. (alg)
Source: Trading Economics
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