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US markets post losses as Nvidia and Caterpillar post weak earnings

  • Regular
  • US Market
  • 5 months ago
  • 72

US indices had a bad start to the week as they all posted losses as investors turn cautious due to the continued trade standoff between Washington and Beijing, along with an upcoming Fed meeting and more earnings reports due to be announced.

The DJIA slid 0.8%, losing almost 400 points during session lows, mainly due to Caterpillar’s weak earnings report prompting shares to drop 9.1%.

The S&P 500 also retreated by 0.8% and the Nasdaq was way off the pace by 1.1% as Nvidia’s shares tumbled by 13.8% as they cut their fourth-quarter revenue guidance from $2.7 billion to $2.2 billion.

 

 

Source: Smart Trend Team