Wall Street registered sharp losses heading into a week filled with third-quarter earnings reports and key economic data.
The leading benchmark indexes slumped, led by the 1.18 percent decline in the tech-heavy Nasdaq Composite Index. The blue-chip Dow Jones Industrial Average erased nearly 400 points, or 0.94 percent, while the benchmark S&P 500 Index dropped 0.96 percent.
Investors will comb through a wave of third-quarter earnings reports and economic news that could offer fresh insights into the underlying health of the stock market and the broader U.S. economy.
PepsiCo Commences Latest Earnings Season
PepsiCo kicked off the market’s week of revelations, sliding about 0.6 percent in pre-market trading after the company trimmed its forecast for annual sales growth. The packaged-food titan anticipates fiscal 2024 organic sales to advance by a low single digit, down from the previous projection of 4 percent….