{"id":1919221,"date":"2023-04-25T20:55:47","date_gmt":"2023-04-26T00:55:47","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-falls-as-weak-earnings-fan-fears-of-economic-slowdown\/"},"modified":"2023-04-25T20:56:18","modified_gmt":"2023-04-26T00:56:18","slug":"wall-street-falls-as-weak-earnings-fan-fears-of-economic-slowdown","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wall-street-falls-as-weak-earnings-fan-fears-of-economic-slowdown\/","title":{"rendered":"Wall Street Falls as Weak Earnings Fan Fears of Economic Slowdown"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwall-street-falls-as-weak-earnings-fan-fears-of-economic-slowdown%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1919221&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The stock market took a hit on Tuesday, with concerns about a slowing U.S. economy and the health of the banking sector weighing heavily on investors&#8217; minds. United Parcel Service Inc&#8217;s shares fell almost 10%, marking their biggest one-day drop in over eight years, after the courier company forecasted lower revenue for the year due to the weakening economy. This, in turn, caused the Dow Jones Transport Average index to drop 3.6%, with UPS rival FedEx Corp also losing 3%. <\/p>\n<p>Adding to investors&#8217; worries were the upcoming quarterly results from megacap technology companies like Microsoft Corp, as well as data showing a nine-month low in U.S. consumer confidence for April. Despite these challenges, traders are still trying to hold it together during this big earnings and economic data week, as well as the upcoming Federal Reserve week. <\/p>\n<p>The KBW Regional Banking index dropped 3.4%, while the broader S&#038;P 500 bank index fell 2.4%, with First Republic shares tanking 41% and hitting a record low. The beleaguered lender reported a more than $100 billion flight in deposits in the first quarter following the biggest banking crisis since 2008 last month. Investors are now trying to figure out the health of the regional banks in general, with many wondering if there is a canary in the coal mine. <\/p>\n<p>Despite these challenges, there were some bright spots. PepsiCo Inc raised its annual revenue and profit forecasts, causing its shares to rise 2% and helping consumer staples stocks outperform. However, shares in Alphabet Inc and Microsoft slipped ahead of their results due after the market close. <\/p>\n<p>Overall, it was a tough day for the stock market, with the S&#038;P 500 losing 1.4%, the Dow Jones Industrial Average falling 0.95%, and the Nasdaq Composite dropping 1.69%. While there were some new highs, declining issues outnumbered advancers on both the NYSE and Nasdaq.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Reuters)\u2014U.S. stocks sank on Tuesday as a downbeat UPS forecast exacerbated investor concerns about a slowing U.S. economy, while a plunge in regional First Republic Bank&#8217;s deposits added to jitters about the health of the banking sector. United Parcel Service Inc shares fell 9.8%, on track for their biggest one-day drop in more than eight<\/p>\n","protected":false},"author":66,"featured_media":1919222,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[11333,4202,3836,9463,4567,7480,4355,4354,7723],"class_list":["post-1919221","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-earnings","tag-economic","tag-falls","tag-fan","tag-fears","tag-slowdown","tag-street","tag-wall","tag-weak"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919221","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1919221"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1919221\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1919222"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1919221"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1919221"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1919221"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}