Major Market Indexes End Mixed Tuesday After Snap Issues Q2 Revenue Warning

Last Updated: Tuesday, May 24, 2022 4:12 PM | MT Newswires

Major market indexes ended mixed Tuesday after Snap (SNAP) said it expects its second-quarter revenue to fall below the low end of its projected range.

The Dow Jones Industrial Average managed to exit negative territory and end by 0.2% higher to 31,931.06 while the S&P 500 declined 0.8% to 3,942.21 and the tech-heavy Nasdaq Composite fell by 2.4% to 11,264.45.

Communication services, consumer discretionary, and technology bore the brunt of the intraday sell-off while consumer staples and utilities led the gainers.

The US 10-year yield plummeted by 9.6 basis points to 2.76% after reaching its lowest intraday level since mid-April earlier in the session.

West Texas Intermediate crude oil futures were slightly down to $110.24 a barrel.

Gold was up $17.20 to $1,871.10 per troy ounce.

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