Today's market sentiment has turned negative, notably affecting the Dow Jones, which is down by 500 points due to retailer Walmart's disappointing profit outlook amidst tariff concerns. Despite beating earnings estimates, Walmart's stock declined over 6%, reflecting investor anxiety about future growth. In contrast, Alibaba reported significant gains, boosting tech sentiment, with shares up 11.7% thanks to strong AI and cloud revenue. This mixed performance also saw Palantir stocks drop amid budget cut fears, while technology stocks show some resilience with a few gainers like Apple and Nvidia.
Walmart's stock is down over 6% despite beating consensus estimates, as market focuses on uncertain future influenced by Mexico and Canada tariffs.
Alibaba shares surged 11.7% after a robust quarterly earnings report, driven by strong AI and cloud technology revenue, reflecting competitive investments in China's AI sector.
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