Morning Report 9 Feb 22: Wall St retreats led by technology

US sharemarkets were lower in late trade on Wednesday, with technology shares leading the way lower. Shares of Lumen Technologies shed 21.3% after it reported a fourth quarter loss. Chipotle Mexican Grill shares slid 4.8% after its latest results disappointed. Alphabet shares were down 7.4% after its new AI chatbot Bard delivered an incorrect answer in an online advertisement. Apple (-1.6%) and Amazon.com (-1.7%) shares also fell. CVS Health shares lifted 4.4% after its US$9.5 billion cash buyout offer for Oak Street Health (+5.1%). Uber gained 5% following better-than-expected earnings. With less than an hour left of trade, the Dow Jones index was down by 180 points or 0.5%. The S&P 500 index lost 1% and the Nasdaq index slid 186 points or 1.5%. 

 

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