US stock futures are sliding.
After the market close on Tuesday, we got a tranche of earnings results from big tech companies, and the after-hours trading reaction was mostly ugly.
Notably, Apple posted iPhone sales numbers below expectations, although it beat on the top and bottom lines. Shares of the world’s most valuable company by market cap tanked 8%.
Microsoft also beat on profits and revenues, although it saw its largest-ever net loss. Shares fell more than 3%.
Yahoo shares dropped 2% after the company’s sales guidance came in lighter than expected.
And now, futures are sliding.
Nasdaq futures fell about 1.2%, or 57 points, after closing down 0.21%.
Dow futures plunged more than 206 points, or about 1.1%.
Stocks closed lower on Tuesday, with the Dow falling 181 points, and the Nasdaq closing down 10 points.
And the moves lower in futures suggests that Wednesday may also be a tough day for stocks.
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