"Tech Stocks Lead Slide as Big Banks Disappoint: Market Update"
TL;DR Summary
Stocks stumbled as tech stocks lost momentum and big banks kicked off earnings season, with the Nasdaq Composite sliding 0.9% and the S&P 500 shedding 0.7%. Oil futures surged amid escalating Middle East tensions, reaching 2024 highs. JPMorgan Chase and Wells Fargo reported strong investment banking revenue, while BlackRock's earnings showed growth in assets under management and improved operating margins. Apple's stock rose after announcing a strong AI push, and concerns about inflationary pressures and geopolitical tensions weighed on investor sentiment.
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