Block and Nvidia lead sharp tech sell-off as markets close the week deeply in the red

Block and Nvidia weren’t just part of the problem on Friday, they were the problem. The U.S. stock market took an aggressive beating to close out the week, led by tech names that couldn’t keep it together. Block, the payments company started by Jack Dorsey, plunged by 10% after reporting disappointing third-quarter numbers. As Cryptopolitan reported earlier, Block’s earnings per share came in at just 54 cents, while analysts surveyed by LSEG expected 67 cents. Revenue didn’t help either, coming in at $6.11 billion, short of the $6.31 billion expected. Sure, that’s still 2% higher than last year, but nobody’s clapping for single digits, and the stock has now fallen 24% this year. It’s the latest blow to Dorsey’s once-shiny Square platform, which clearly isn’t printing profits the way it used to. Nvidia, Oracle and others sink deeper into red While Block was bleeding from weak earnings, Nvidia was dragging...

https://www.cryptopolitan.com/block-and-nvidia-drag-us-stock-markets-low/