Stock Market Update
16-Apr-25 14:30 ET
S&P 500 slips 2.1% as Meta drags on tech; Abbott rallies on strong earnings
Dow -543.29
at 39825.67,
Nasdaq -536.15
at 16287.01,
S&P -113.17
at 5283.46
[BRIEFING.COM] The S&P 500 (-2.10%) is in second place on Tuesday afternoon, sitting just a bit off session lows.
Briefly, S&P 500 constituents Carmax (KMX 64.26, -3.47, -5.12%), Warner Bros. Discovery (WBD 7.90, -0.35, -4.24%), and Meta Platforms (META 501.75, -19.77, -3.79%) pepper the bottom of the average. KMX and WBD fall despite a dearth of corporate news, while META's losses reflect a broad tech sell-off after new US chip export curbs, compounded by fears of slowing ad-spend, heavy AI/Reality Labs outlays, and revived FTC breakup risk.
Meanwhile, Abbott Labs (ABT 131.04, +4.82, +3.82%) is holding gains atop the standings as Q1 earnings topped estimates and management reaffirmed its full-year guidance, signaling resilience amid tariff headwinds.
