The quarterly reports from massive tech companies Alphabet and Tesla failed to impress investors, and as a result, Nasdaq-100 futures saw a selloff on Wednesday.
Although S&P 500 futures declined 0.7%, those linked to the tech-heavy Nasdaq-100 saw a 1% decline. The 0.4% increase in Dow Jones Industrial Average futures is 173 points.
The premarket trading of Alphabet, the parent company of Google, saw a 3.8% decline in shares.
YouTube advertising income was less than anticipated even as Alphabet posted better-than-expected top and bottom line results.
With lower-than-expected numbers and a 7% loss in vehicle revenue year over year, Tesla’s shares fell more than 8% during this time.
Source (CNBC)
