American stocks fell on average, as investors analyzed the financial reports of companies.
The clean profit of the tech giant Apple in the last quarter exceeded all expectations. Nevertheless, the company’s shares dropped 4% after the results were announced. Such a sharp decline was the main reason for the overall market downturn.
Microsoft also reported exceeding profit projections and revenue. However, shares of the software giant fell 3%.
"Although companies show good results, investors expect even more impressive indicators, which leads to a short-term decline in quotations," analysts note.
Experts also expressed concerns regarding potential further developments in the market in light of rising Federal Reserve interest rates. Despite the unexpected growth, the value of many stocks continues to decline.
