Tech Stocks Slump
Stocks fell for the fourth time in five sessions, with tech stocks at the front of the slide.
The NASDAQ fell to its lowest close since early March.
But Google and Microsoft bucked the trend and could restore confidence in the sector.
Google’s first quarter showed solid growth in its core Internet business. And Microsoft reported a 23% increase in Windows sales from a year ago.
Not everyone fared so well, though.
IBM’s first quarter earnings fell short of estimates.
And as its slide continued, more bad news for Apple: Verizon activated two million fewer iPhones in the first quarter than the fourth.