Finance

Markets drop as quarterly earnings disappoint

Stock markets opened down Tuesday as several major companies’ quarterly earnings fell short of expectations.

The Dow Jones Industrial Average opened down 185 points, or 0.7 percent, and the S&P 500 dropped 18 points, or 0.6 percent.

The slump, which erased many of Monday’s gains, followed disappointing earnings reports from companies such as McDonald’s, 3M and JetBlue. A slew of other earnings reports are expected Tuesday morning from companies such as Starbucks, Visa and eBay.

The earnings data comes after Senate Republicans released their version of the next coronavirus stimulus relief bill, an opening bid in negotiations with Democrats.

The bill would include a second round of stimulus checks, reduced unemployment benefits, and an extension to the Paycheck Protection Program to help small businesses.

Tags Coronavirus Dow Jones relief bill S&P Senate Stimulus Stock market

The Hill has removed its comment section, as there are many other forums for readers to participate in the conversation. We invite you to join the discussion on Facebook and Twitter.

See all Hill.TV See all Video

Most Popular

Load more

Video

See all Video