Nasdaq, S&P tumble, Netflix stock falls

On Friday, the Nasdaq and the S&P 500 closed lower, primarily influenced by Netflix’s disappointing performance, while American Express helped buoy the Dow.

Netflix’s shares declined, impacting the S&P and Nasdaq, as the company’s second-quarter revenue outlook missed analyst estimates, and it announced it would no longer disclose subscriber counts.

Conversely, the Dow saw gains, partly due to American Express exceeding profit expectations for the first quarter.

Market sentiment has been affected by concerns about the Federal Reserve’s stance on interest rates, Reuters has reported.

READ MORE: https://www.reuters.com/markets/us/wall-streets-fear-gauge-over-5-month-high-rate-cut-mideast-worries-2024-04-19/

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