KEEPING SCORE: The S&P 500 fell 0.8 percent as of 10:08 a.m. Eastern time, and was on pace for its worst day in more than two weeks. The Dow Jones industrial average lost 172 points, or 0.7 percent, to 25,218, and the Nasdaq composite dropped 1 percent.
BLOCKED: Twitter sank 9.9 percent for one of the biggest losses in the S&P 500 after it said its monthly user base fell to 321 million during its latest quarter from 330 million a year earlier. It also said it expects to make $715 million to $775 million in revenue during the current quarter. Analysts are expecting $765 million, according to FactSet.
EARNINGS WORRIES: It’s not just Twitter that investors are getting concerned about. Across the S&P 500, analysts are forecasting earnings per share to drop 1.8 percent in the first quarter from a year earlier. They were forecasting growth just a few weeks ago, and if the updated forecasts prove true, it will be the first decline in nearly three years.
Any decline would also be a sharp drop-off from the 12.9 percent growth that S&P 500 companies are expected to report for the quarter of 2018.
OVERSEAS MARKETS: European stock markets were mostly lower after the European Union slashed its forecast for economic growth in the 19 countries that use the euro this year to 1.3 percent from an earlier forecast of 1.9 percent. A weaker-than-expected report on industrial production in Germany also raised concerns.
Asian markets were mixed.
TRADE TALKS: Stocks around the world have heaved up and down recently on concerns about U.S.-China trade tensions. U.S. Treasury Secretary Stephen Mnuchin and trade representative Robert Lighthizer will lead a delegation to Beijing next week for the next round of trade talks, but the issues are complex. These include contentious topics