Wall Street is struggling to find risk-on momentum, with major indexes stuck near the flatline at midday as investors assess the latest earnings reports from mega-cap tech stocks and weaker-than-expected U.S. economic growth in the final quarter of 2024.
After Tuesday's rally — which followed a selloff triggered by DeepSeek's impact earlier in the week — caution has taken hold, signaling the wounds from the downturn are still fresh.
Microsoft Corp.(NYSE:MSFT) is among the hardest-hit stocks, plunging more than 6%, which could mark its worst daily decline since October 2022.
Despite reporting overall stronger-than...
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