US stocks drop as gloomy earnings reports from Big Tech and others roll in
, underscoring concerns about how companies are faring through macroeconomic headwinds and supply chain snarls.
All three of Wall Street's major equity indexes were in the red, led by losses in the tech-concentrated Nasdaq Composite. Microsoft shares were under pressure after the company cut its fiscal third-quarter revenue outlook in part as growth in its cloud business slows. fell after the aircraft maker posted a more than $600 million loss for the fourth quarter, hurt by supply chain challenges. 's fourth-quarter results due after Wednesday's closing bell. Investors will watch what the EV maker says about demand and recent price cuts.
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