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The Dow Jones Industrial Average fell over 360 points in Tuesday's pre-market trading as concerns about global economic heath continued to rattle markets. Tech stocks continued to decline this morning as broader sector trends weighed on investors.
Shares of Apple Inc. (NASDAQ: AAPL), Facebook Inc. (NASDAQ: FB), Amazon.com Inc. (NASDAQ: AMZN), and Google parent Alphabet Inc. (NASDAQ: GOOGL) are all under pressure following reports of slowing sales growth.
Here are the numbers from Monday for the Dow, S&P 500, and Nasdaq:
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Now, here's a closer look at today's Money Morning insight, the most important market events, and stocks to watch.
Money Morning Insight of the Day: the Crash of 2008 Was Nothing
If you thought that the stock market crash of 2008 was devastating… you've got another thing coming.
This crash, due to happen in the next 30 days, is shaping up to be so detrimental that it could take a decade to recover from the turmoil.
It will drive millions of American seniors to the brink of bankruptcy, and there's only one way you can ensure that you'll survive this.
The Top Stock Market Stories for Tuesday
- This morning, markets have their eye on one man: Carlos Ghosn. Ghosn is the chair of Nissan Motor Co. Ltd. (OTC MKTS: NSANY), Mitsubishi Motors Corp. (OTC MKTS: MMTOF), and Renault SA (OTC MKTS: RNSDF). He has been arrested in Japan due to "significant acts of misconduct" over his term as head of these organizations.
- The price of Bitcoin plunged an incredible 15% in a day. The price of the cryptocurrency fell to $4,200 as markets continue to react negatively to regulatory oversight by the SEC. The world's largest cryptocurrency is off more than 75% over the last year as investors continue to panic and abandon the sector.
Stocks to Watch Today: KSS, TGT, BBY
- Shares of Kohl's Corp. (NYSE: KSS) plunged more than 10% even though the retailer beat earnings expectations in pre-market hours. Kohl's reported earnings per share (EPS) of $0.98 during its third quarter. That beat Wall Street estimates by $0.02.
- Target Corp. (NYSE: TGT) leads a busy day of earnings reports. Shares of TGT stock plunged nearly 10% in pre-market hours after the firm reported weaker-than-expected earnings and tepid same-store sales.
- Best Buy Co. Inc. (NYSE: BBY) fell more than 2% despite news that the firm topped Wall Street estimates. The Big Box retailer reported earnings per share of $0.08, although the adjusted EPS figure came in at $0.93. The firm also bested Wall Street same-store and forecast estimates.
- Look for additional earnings reports from Autodesk Inc. (NASDAQ: ADSK), Barnes & Noble Inc. (NYSE: BKS), Best Buy Co. Inc. (NYSE: BBY), BJ's Wholesale Club Holdings Inc. (NYSE: BJ), Campbell Soup Co. (NYSE: CPB), Foot Locker Inc. (NYSE: FL), Gap Inc. (NYSE: GPS), Hormel Foods Corp. (NYSE: HRL), Lowe's Co. Inc. (NYSE: LOW), Medtronic Plc. (NYSE: MDT), Ross Stores Inc. (NASDAQ: ROST), Star Bulk Carriers Corp. (NASDAQ: SBLK), and TJX Co. Inc. (NYSE: TJX).