Snap’s results weigh down on Wall Street stocks
US stocks ended lower on Friday after disappointing results from Snap Inc. (NASDAQ: SNAP) led to a fall in social media stocks
By Yashasvini Razdan
Published - Jul 23, 2022, 12:52 AM ET
Last Updated - Mar 12, 2024, 11:32 AM EDT
US stocks ended lower on Friday after disappointing results from Snap Inc. (NASDAQ: SNAP) led to a fall in social media stocks.
The Dow Jones Industrial Average lost 137.61 points, or 0.4%, to end at 31,899.29. The S&P 500 slipped 37.32 points, or 1%, to close at 3,961.63. The Nasdaq Composite dropped 225.50 points, or 1.9%, finishing at 11,834.11.
The S&P 500 advanced about 2.6% for the week, while Nasdaq capped the week up 3.3%.
Stocks closed lower on Friday, after the S&P 500 index briefly broke above 4,000 for the first time since June 9, with shares of technology companies tumbling after Snap’s results.