US Close 25 Oct 2018: Stocks plunge on earnings and economic news

US sharemarkets fell on Wednesday after chipmakers Texas Instruments (-8.2%)  and STMicroelectronics (-13.8%) warned of slowing demand. AT&T shares tumbled 8.1% after the wireless carrier's quarterly profit rose less than expected, held back by its declining satellite TV business. But Boeing shares rose 1.3% after raising its full-year profit outlook. Technology shares remained under pressure, led lower by Netflix (-9.4%). The Dow Jones fell by 608 points or 2.4%. The S&P500 index fell 3.1% and the Nasdaq index lost 329 points or 4.4%.

 

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