The NASDAQ index got hit hard with the major index falling the most since February 21.

The index fell -2.43%. That represents the 2nd worst trading day of the calendar year. On February 21 the index fell -2.50%.

Although Microsoft rose near 3% on the day after its earnings and revenues beat expectations last night, Alphabet fell sharply despite beating its expectations. Traders were not impressed with its cloud revenues. Alphabet shares fell -9.50% on the day. The decline was its worst day since March 2020.

A snapshot of the final numbers shows:

  • Dow industrial average fell -105.45 points or -0.32% at 33035.92
  • S&P index fell -60.94 points or -1.43% at 4186.79
  • NASDAQ index fell -318.66 points or -2.43% at 12821.21

After the close, Meta will report earnings:

  • EPS are expected at $3.63
  • Revenues are expected at $33.56B

UPDATE: Meta beat on the top and bottom lines

  • EPS at $$4.39 vs $3.63 est.
  • Revenues came in at $34.15 vs expectations of $33.56 billion
  • Forward guidance $36.5B to $40B vs $38 billion expected

Shares are up over 3% in after-hours trading

Meta closed down sharply. Shares ended the day down $-13.01 or -4.16% at $299.54. It's 100 day moving average was just below the closing level at $299.05.

For IBM they beat on the top and bottom line:

  • Earnings came in at $2.20 versus estimate of $2.13
  • Revenues came in at $14.75 billion versus $14.73 billion estimate

Shares of IBM are up 1.4%

ServiceNow beat on the top and bottom line:

  • EPS $2.92 versus $2.56 estimate
  • Rev $2.29 billion versus $2.27 billion estimate

Shares of ServiceNow are trading up 6.57%