Microsoft: A Return to the Dot-Com Era

 

LIVE STOCK MARKET NEWS UPDATES: STOCKS SLUMP AS EARNINGS SEASON APPROACHES.

 

United states equities fell sharply on Monday, followed by significant losses in technology firms, as investors braced for the start of earnings season and the release of new inflation data later this week.

 

As of 12:41 p.m. ET, the Nasdaq Composite was down 1.8 percent, while the S&P 500 was down 0.9 percent. The Dow Jones Industrial Average dropped 94 points, or 0.3%. The developments come after a positive week for stocks in which all three indices gained weekly.

notwithstanding the fact that after the employment report for Friday.

Meanwhile, the euro fell once again. Monday, decreasing in value relative to the US dollar . The euro fell as much as 1.3 percent to $1.0057, its lowest level in two decades, as investors worried about an oil crisis sending Europe's economy into recession.

On the go:

  §   Needham & Company analyst Laura Martin downgraded Meta Platforms (META) to Underperform from Hold, recommending investors remain on the sidelines as the social media giant evaluates "several structural valuation risks," including consumer behavior shifts, competition, moat degradation, regulatory risks, and Metaverse investment risks.

 

  §   Uber (UBER) stock fell 3.4 percent after it was revealed that the ride-hailing business sought to lobby politicians, including French President Emmanuel Macron, and violated several laws in its efforts to expand its operations abroad from 2013 to 2017. The "Uber Files," as published by the Guardian and the French newspaper Le Monde, are based on more than 124,000 papers leaked to the publications, indicating "ethically problematic tactics" that fueled the company's rise under co-founder Travis Kalanick.

 

  §   Twitter (TWTR) shares slumped 6.1 percent on Friday after Elon Musk withdrew his $44 billion bid for the social media giant. Musk mentioned "material" breaches of various clauses in the agreement in his decision to terminate the agreement, including Twitter's recent decision to lay off some of its recruiting team and Twitter's inability to furnish Musk with an accurate count of "bots," or phony accounts.