The hits just keep on coming for the Dow Jones Industrial Average
Macroeconomic worries co ntinued to weigh on markets today, with even Warren Buffett sounding less optimistic about the U.S. economy. Buffett said that the general economy has been flat, and that the "little pickup in housing has not been enough to offset what has been going on in the rest of the world."
Here’s how all three major U.S. indices fared on the day:
|Dow Jones Industrial Average||-31.26 [-0.25%]||12,573.27|
|S&P 500||-6.69 [-0.50%]||1,334.76|
Worries over upcoming earnings were probably the main reason for the Dow’s slide today. Investors were most concerned with tech companies, after a slew of subpar earnings releases from smaller software firms, and a warning from AMD on its second quarter revenue. The chip maker said sales would be significantly lower than previously forecast, based on weakness in China and Europe. That was enough to make three big tech companies the Dow’s biggest losers. Intel
On the other side of the coin, giant drug maker Merck
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Brendan Byrnes owns no shares of any company mentioned above. The Motley Fool owns shares of Intel, Cisco Systems, and Microsoft. Motley Fool newsletter services have recommended buying shares of Intel and Microsoft. Motley Fool newsletter services have recommended creating a bull call spread position in Microsoft. The Motley Fool has a disclosure policy. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.