Nasdaq Leads U.S. Stocks Lower as Amazon Results Trigger Selloff

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Concern earnings growth is too slow to justify U.S. equity valuations sent the Nasdaq Composite Index to its biggest decline in two weeks.

Amazon.com Inc. dropped 9.9 percent after predicting an operating loss in the current quarter, contributing to a 1.8 percent decline in the Nasdaq Composite. Broadcom Corp. lost 4.4 percent to pace declines among technology shares. Visa sank 5 percent after revenue missed analyst targets. Ford Motor Co. slipped 3.3 percent after posting earnings that trailed analysts�� estimates.

The Standard & Poor��s 500 Index dropped 0.8 percent to 1,863.52 at 4 p.m. in New York, leaving it down 0.1 percent for the week. The Dow Jones Industrial Average decreased 139.26 points, or 0.8 percent, to 16,362.39. Visa is the biggest member of the Dow. The Russell 2000 Index of smaller companies sank 1.9 percent, erasing gains for the week.

Copy Source : Bloomberg