Economy

Tech stocks suffer steep two-day drop after Google, Meta earnings

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Alphabet’s earnings sailed past Wall Street estimates after the markets closed on Tuesday. Meta followed suit on Wednesday, solidly topping expectations.

It didn’t matter.

Following better-than-expected results on the top and bottom lines from two of the most valuable tech companies in the world, the Nasdaq responded by dropping roughly 3% over two days.

With Amazon’s third-quarter report on deck after Thursday’s close and Apple set to announce next week, tech investors are showing less interest in what’s happened over the past three months and are more concerned about what may be coming as the year wraps up.

In Alphabet’s earnings report, Wall Street fretted over the numbers out of the…



Source cnbc.com

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