Caterpillar and Nvidia warnings send Wall Street tumbling
Updated : January 29, 2019 06:29 AM IST
Although earnings have largely surpassed Wall Street’s expectations, helping the S&P 500 climb about 12 percent from its December lows, worries about slowing global growth have tempered expectations.
With Wall Street in the thick of quarterly results this week, 72.6 percent of companies that have already reported have exceeded profit estimates, according to IBES data from Refinitiv.
Nine of the 11 major S&P sector indexes fell. Amazon.com Inc and Microsoft Corp each dropped nearly 2 percent, while Apple shares declined almost 1 percent, dragging down the S&P 500 and the Nasdaq.
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