Stocks fall, spooked by gloomy outlook
- Date: 25-May-2022
- Source: Jordan Times
- Sector:Financial Markets
- Country:Gulf
Stocks fall, spooked by gloomy outlook
LONDON — Stock markets retreated on Tuesday on renewed concerns over weak global growth following a profit warning from the owner of Snapchat that spooked investors and further shocked the tech sector.
It comes amid concerns over the impact of China's COVID-19 restrictions on the world's second-largest economy after the United States.
Monday's strong Wall Street rally, where the Dow closed up two per cent failed to carry over into Tuesday as Snap, the parent of social media app Snapchat, warned overnight that it saw the economic outlook as having darkened considerably.
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