Stocks declined on Thursday as investors monitored geopolitical tensions in the Middle East, including news of a potential deal to reopen the crucial Strait of Hormuz. Traders also digested a wave of corporate earnings reports.
The S&P 500 and Nasdaq Composite both fell by 0.2%. The Dow Jones Industrial Average dropped 331 points, or 0.6%, primarily due to a 4% decline in Salesforce shares following news of a leadership shakeup.
SanDisk’s stock declined 5% after reporting fiscal fourth-quarter results that disappointed investors.
Additionally, AppLovin plummeted 19% on mixed quarterly results, while Western Digital’s shares fell 11% after the company’s first-quarter outlook fell short of expectations, despite beating fourth-quarter estimates.
Source (CNBC)
