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Market Tumbles Amid Tech Earnings & Oil Surge | Spokane News
The market took a beating this week as major indexes plunged over one percent following disappointing earnings from big tech giants Alphabet and Tesla, sending investors into nervous mode. Oil prices surged past $100 a barrel, adding inflationary pressure and complicating the Fed’s monetary policy dilemma. Alphabet’s stock tumbled on higher spending plans, while Tesla hit a rough patch with its first negative free cash flow in years — dragging down communication and consumer discretionary sectors. Meanwhile, defense stocks like Lockheed Martin and RTX rallied on stronger profit forecasts, and…
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