- Flash flooding kills three in northern Thailand
- Kaur leads India to victory over Pakistan in Women's T20 World Cup
- Juventus held by Cagliari after late penalty drama
- In France's Marseille, teen 'stabbed 50 times' then burned alive
- Ruthless Gauff beats Muchova in straight sets to win China Open
- India restrict Pakistan to 105-8 in Women's T20 World Cup
- England target repeat of Pakistan Test whitewash
- Penrith Panthers win fourth straight NRL title after downing Storm
- Weary Sinner happy for day off after battling into Shanghai last 16
- Pakistan's Masood warns England still a force without Stokes
- Madrid's Carvajal to miss several months after serious knee injury
- Two elephants die in flash flooding in northern Thailand
- Sabalenka targets world number one and Wuhan hat-trick
- Tunisia votes with Saied set for re-election
- Bagnaia sets 'example' with Japan MotoGP win to cut gap on Martin
- Intense Israeli bombing rocks Beirut ahead of war anniversary
- Mozambique vote: no suspense but some disillusion
- Austrian rapper channels anti-racist rage in Romani hip-hop songs
- Ohtani magic powers Dodgers over Padres in MLB playoff thriller
- Five of the best: Pakistan-England Test thrillers
- Man sets arm on fire as marches across US mark Gaza war anniversary
- Vietnam's young coffee entrepreneurs brew up a revolution
- Trump rallies at site of failed assassination: 'Never quit'
- Too hot by day, Dubai's floodlit beaches are packed at night
- Is music finally reckoning with #MeToo?
- Fans hail Trump's 'guts' as he returns to site of rally shooting
- Lebanon state media says Israeli strikes hit south Beirut
- Miami on track for MLS record points after win in Toronto
- Monaco take top spot in Ligue 1 with win at Rennes
- Madrid beat Villarreal to level Liga leaders Barca
- Thuram treble fires Inter past Torino and up to second
- 'Fight': defiant Trump jets in to site of rally shooting
- Mexico City's new mayor sworn in with pledges on water, housing
- Israel on alert ahead of Hamas attack anniversary
- Guardians maul Tigers in MLB playoff series opener
- Macron criticises Israel on Gaza, Lebanon operations
- French rugby player whistled but 'serene' on return amid ongoing rape case
- Retegui hat-trick fires five-star Atalanta to hammering of Genoa
- Heavyweights Australia, England off to World Cup winning starts
- Visiting UN refugee agency chief decries 'terrible crisis' in Lebanon
- Spinners come to party as England defeat Bangladesh at T20 World Cup
- Search continues for missing in deadly Bosnia floods
- Man City sink Fulham to get title bid back on track
- France's Auradou whistled on Pau return in Perpignan loss amid ongoing rape case
- A 'forgotten' valley in storm-hit North Carolina, desperate for help
- Arsenal hit back in style after Southampton scare
- Hezbollah heir apparent Safieddine out of contact after strikes
- Liverpool stay top of Premier League as Arsenal, Man City win
- In dank Tour of Emilia, Pogacar shines in rainbow jersey
- DR Congo launches mpox vaccination drive, hoping to curb outbreak
Stocks mostly fall after sentiment Snap-ped
Stock markets retreated Tuesday on renewed concerns over weak global growth following a profit warning from the owner of Snapchat that spooked investors and further shocked the tech sector.
The red flag comes amid jitters surrounding the impact of China's Covid-19 restrictions on the world's second-largest economy.
The strong Wall Street rally on Monday, where the Dow closed up two percent, failed to carry over into Tuesday as Snap, the parent of social media app Snapchat, warned overnight that it saw the economic outlook as having darkened considerably.
Its share plunged more than 43 percent.
"Snap provided a shock," noted Neil Wilson, chief market analyst at Markets.com.
The company "spooked the market with a macroeconomic warning that dented tech the most and pointed to earnings revisions that could drag the market lower for longer," he added.
The tech-heavy Nasdaq Composite dropped 2.4 percent, as Facebook-parent Meta lost 7.6 percent and Google-parent Alphabet dropped 5.0 percent.
Patrick J. O'Hare at Briefing.com said Snap's advisory impacted the broader market as well where investors are worried about the economic trajectory.
"The real issue hitting the market in terms of the Snap warning is the context for the warning: 'the macroeconomic environment has deteriorated further and faster than anticipated,'" he said.
- Pound lashed -
The pound also took a knock after an S&P Global's economic sentiment survey for Britain fell to a 15-month low.
"The extent of the fall points to a UK economy hitting the buffers hard as the combined effect of surging energy prices, and tax rises starts to curtail economic activity," said Michael Hewson, chief market analyst at CMC Markets.
Shares in British energy firms slumped following reports that the UK government may impose a windfall tax on excess profits enjoyed by electricity producers.
Prime Minister Boris Johnson so far has indicated he does not want to impose such a tax on oil and gas producers despite the fact those firms also earned vast sums as prices soar.
Shares in Drax fell by 16.1percent, SSE by 7.7 percent and Centrica by 7.6 percent.
Johnson argues an exceptional levy on the likes of BP and Shell would harm their efforts to invest in greener fuels like solar and wind power.
In China, Beijing's announcement Monday of a fresh raft of measures to stimulate the economy did little to calm investors' nerves.
China's economy has taken a hit from Beijing's zero-Covid approach to the pandemic, which has resulted in lengthy lockdowns of major cities and mass testing of millions of people.
Prolonged virus lockdowns have constricted supply chains, dampened demand and stalled manufacturing.
Investment banks UBS Group and JPMorgan Chase have responded by cutting their China economic growth forecasts.
"The lingering restrictions and lack of clarity on an exit strategy from the current Covid policy will likely dampen corporate and consumer confidence and hinder the release of pent-up demand," UBS economists including Tao Wang wrote in a research note.
- Key figures at around 1530 GMT -
New York - Dow: UP 0.2 percent at 31,928.62 (close)
New York - S&P 500: DOWN 0.8 percent at 3,941.48 (close)
New York - Nasdaq: DOWN 2.4 percent at 11,264.45 (close)
London - FTSE 100: DOWN 0.4 percent at 7,484.35 (close)
Frankfurt - DAX: DOWN 1.8 percent at 13,919.75 (close)
Paris - CAC 40: DOWN 1.7 percent at 6,253.14 (close)
EURO STOXX 50: DOWN 1.6 percent at 3,647.56 (close)
Tokyo - Nikkei 225: DOWN 0.9 percent at 26,748.14 (close)
Hong Kong - Hang Seng Index: DOWN 1.8 percent at 20,112.10 (close)
Shanghai - Composite: DOWN 2.4 percent at 3,070.93 (close)
Euro/dollar: UP at $1.0739 from $1.0691 at 2100 GMT Monday
Pound/dollar: DOWN at $1.2535 from $1.2588
Euro/pound: UP at 85.64 pence from 84.93 pence
Dollar/yen: DOWN at 126.86 yen from 127.90 yen
Brent North Sea crude: UP 0.1 percent at $113.56 per barrel
West Texas Intermediate: DOWN 0.5 percent at $109.77 per barrel
burs-jmb/hs
G.M.Castelo--PC