Tesla IncTesla reported disappointing earnings.
Dow futures tumbled more than 300 points, pressured by a spike in oil prices and disappointing earnings from Tesla and Alphabet. As of 6:59 PM Thai time, Dow futures were down 331 points, or 0.63%, to 52,118, while S&P 500 futures and Nasdaq futures fell 0.6% and 0.83% respectively. Alphabet shares sank over 5% in pre-market trading amid concerns about rising artificial intelligence spending, and were also pressured by reports that the European Union fined Google, a subsidiary of Alphabet, 890 million euros, or about 34 billion baht, under the Digital Markets Act. Tesla shares dropped more than 5% after revealing disappointing earnings. WTI crude oil prices jumped over 4%, breaking above 90 dollars a barrel, after Houthi rebels in Yemen claimed to have attacked two Saudi oil tankers in the Red Sea, and President Donald Trump threatened to strike Iranian infrastructure if Iran attacks commercial ships in the Strait of Hormuz. Jim Reid of Deutsche Bank noted that inflation remains a key issue, with oil prices surging to a seven-week high further fueling concerns that central banks may continue raising interest rates.
Tesla IncTesla reported disappointing earnings.
Alphabet Inc Class CEU fined Google 890 million euros under the Digital Markets Act.