Morning Report 27 Apr 22: ASX set to add to recent losses as growth concerns weigh on Wall St

US sharemarkets slumped on Tuesday with tech stocks leading the declines. Investors are worried that more aggressive Federal Reserve policy could lead to slower economic growth. Shares in General Electric fell by 10.3% after forecasting earnings at the low end of its previous estimate. Investors await earnings from Alphabet and Microsoft after the close. At the close of trade, the Dow Jones index was lower by 809 points or 2.4%. The S&P 500 index lost 2.8%. And the Nasdaq index lost 514 points or 4.0%.

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