Market Tumbles Amid Tech Earnings & Oil Surge | Spokane News

The market took a beating this week as major indexes plunged over one percent following disappointing earnings from big tech giants Alphabet and Tesla, sending investors into nervous mode. Oil prices surged past $100 a barrel, adding inflationary pressure and complicating the Fed’s monetary policy dilemma. Alphabet’s stock tumbled on higher spending plans, while Tesla hit a rough patch with its first negative free cash flow in years — dragging down communication and consumer discretionary sectors. Meanwhile, defense stocks like Lockheed Martin and RTX rallied on stronger profit forecasts, and Thermo Fisher Scientific gained after boosting its outlook. Market volatility spiked, but traders remain hopeful the Fed will pause rate hikes — for now. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/b956d35f05b7c601