Wall Street closes lower despite upbeat earnings
The United States’ major stock markets extended losses on Tuesday, closing below the flatline as investors digested the earnings reports released by blue-chip companies. Before the earnings season, the markets had high expectations for economic recovery and business profits, but are now retrieving from those positions as global health authorities expect new waves of coronavirus cases.
Dow Jones closed 0.75% in the red led by Nike dropping by 4.12%, while S&P slid by 0.68% with United Airlines plummeting by 8.53%. Nasdaq 100 lost 0.71% as Pinduoduo fall by 5.41%.
The euro remained flat against the dollar, shedding 0.04% and trading for $1.20326 at 3:59 pm ET.
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