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Equities retreat as Wall Street eyes tech earnings, growth worries linger

The Dow Jones Industrial Average fell 438.09 points, or 1.29%, to 33,611.37; the S&P 500 lost 73.1 points, or 1.70%, to 4,223.02; and the Nasdaq Composite dropped 347.48 points, or 2.67%, to 12,657.37.

April 26, 2022 / 09:44 PM IST
Representative Image (Reuters)

Representative Image (Reuters)

World shares gave back earlier gains on Tuesday and Wall Street fell, as investors awaited Big Tech earnings and worries over global growth lingered.

China's COVID-19 curbs and fears of aggressive U.S. Federal Reserve tightening continued to damp risk appetite and lifted the dollar to new two-year highs.

MSCI's benchmark for global equity markets fell 1.21% to 660.49 by 1447 GMT. Europe's continent-wide STOXX 600 fell 0.31%, giving back gains seen as earnings from companies including Swiss bank UBS and shipping giant Maersk boosted sentiment. Emerging markets stocks held gains, up 0.26%.

The Dow Jones Industrial Average fell 438.09 points, or 1.29%, to 33,611.37; the S&P 500 lost 73.1 points, or 1.70%, to 4,223.02; and the Nasdaq Composite dropped 347.48 points, or 2.67%, to 12,657.37.