Dow Falls After Tech Sell-Off; FedEx Dives On Earnings (Live Coverage)

💡 The Dow Jones Industrial Average tumbled on a tech sell-off, with FedEx shares plummeting after disappointing earnings.

The Dow Jones Industrial Average fell 2.1% on Wednesday after a tech sell-off, with the Nasdaq Composite shedding 3.2%. The S&P 500 declined 1.9%.

Stock Market Today

The tech sell-off was led by $NVDA, which plummeted 8.5% after a disappointing earnings report. The chipmaker's revenue fell short of expectations, and its guidance for the current quarter was weaker than anticipated. $AAPL also declined 4.2% after a report suggested that the iPhone maker's sales may be slowing.

FedEx Earnings Disappoint

FedEx shares dove 15.1% after the logistics company reported weaker-than-expected earnings. The company's revenue fell 6.5% year-over-year, and its guidance for the current quarter was cut. $FDX attributed the decline to higher fuel costs and a slowdown in global trade.

Market Reaction

The market reaction to the earnings reports was swift and severe, with the Dow Jones Industrial Average plummeting 2.1%. The S&P 500 and Nasdaq Composite also declined, with the S&P 500 falling 1.9% and the Nasdaq shedding 3.2%.

What It Means for Investors