Stocks fell Thursday as a year-end sell-off returned to Wall Street following a brief respite this week. The Dow fell 1.05%. The S&P 500 shed 1.44%. The Nasdaq plunged 2.18%.
, and introduced cost-cutting measures. Shares were last trading nearly 2.7% higher, as of 11:17 a.m. ET.Stocks are tumbling Thursday, dashing hopes that had been stoked by a 526-point rally on Wednesday. Top Wall Street analysts don't expect these gyrations to go away anytime soon.is heading in 2023. While the average forecast calls for a higher year, many are seeing double-digits drawdowns during the period as the economy is expected to deteriorate.
Government lawsuit against Microsoft because of its Activision Blizzard deal makes it less likely for tech giant to buy Netflix "In the last several months, we have seen a dramatic drop in demand," said Micron CEO Sanjay Mehrotra on an earnings call Wednesday, noting that a mismatch between supply and demand has forced the company to retain more inventory and lose its pricing power.
In response to these challenges, the company said it's cutting 10% of its workforce and suspending 2023 bonuses.
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