Wall Street slips as weak earnings hit tech, travel stocks

Friday, August 5, 2022, Vol. 46, No. 31
The Associated Press

Stocks are closing lower on Wall Street as disappointing earnings reports weighed on technology and travel companies.

The S&P 500 fell 0.4%, while the Dow Jones Industrial Average and the Nasdaq also slipped Tuesday afternoon.

Chipmaker Micron Technology fell after warning investors that revenue could fall short of forecasts because of weakening demand. Norwegian Cruise Line plunged after reporting disappointing financial results and giving investors a weak revenue forecast.

Two reports on prices due later this week could signal to investors whether the Federal Reserve's aggressive rate hikes this year have brought inflation under control.