NASDAQ index has its worse trading days since February 21

<p>The NASDAQ index got hit hard with the major index falling the most since February 21.</p><p>The index fell -2.43%. That represents the 2nd worst trading day of the calendar year. On February 21 the index fell -2.50%.</p><p>Although Microsoft rose near 3% on the day after its earnings and revenues beat expectations last night, Alphabet fell sharply despite beating its expectations. Traders were not impressed with its cloud revenues. Alphabet shares fell -9.50% on the day. The decline was its worst day since March 2020. </p><p>A snapshot of the final numbers shows:</p><ul><li>Dow industrial average fell -105.45 points or -0.32% at 33035.92</li><li>S&amp;P index fell -60.94 points or -1.43% at 4186.79</li><li>NASDAQ index fell -318.66 points or -2.43% at 12821.21</li></ul><p>After the close, Meta will report earnings:</p><ul><li>EPS are expected at $3.63</li><li>Revenues are expected at $33.56B</li></ul><p>UPDATE: Meta beat on the top and bottom lines</p><ul><li>EPS at $$4.39 vs $3.63 est. </li><li> Revenues came in at $34.15 vs expectations of $33.56 billion</li><li>Forward guidance $36.5B to $40B vs $38 billion expected</li></ul><p>Shares are up over 3% in after-hours trading</p><p>Meta closed down sharply. Shares ended the day down $-13.01 or -4.16% at $299.54. It's 100 day moving average was just below the closing level at $299.05. </p><p>For IBM they beat on the top and bottom line:</p><ul><li>Earnings came in at $2.20 versus estimate of $2.13</li><li>Revenues came in at $14.75 billion versus $14.73 billion estimate</li></ul><p>Shares of IBM are up 1.4%</p><p>ServiceNow beat on the top and bottom line:</p><ul><li>EPS $2.92 versus $2.56 estimate</li><li>Rev $2.29 billion versus $2.27 billion estimate</li></ul><p>Shares of ServiceNow are trading up 6.57%</p>

This article was written by Greg Michalowski at www.forexlive.com.