"Market Update: Stocks Dip as Dow Suffers Worst Session Since March 2023"

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Source: CNBC
"Market Update: Stocks Dip as Dow Suffers Worst Session Since March 2023"
Photo: CNBC
TL;DR Summary

U.S. stock futures remained flat after the Dow Jones Industrial Average experienced its largest decline since March 2023, with Lyft shares surging over 18% in after-hours trading following better-than-expected earnings, while Airbnb slipped 4.5% despite beating revenue expectations. The market sell-off was triggered by a higher-than-anticipated inflation reading, leading to concerns that the Federal Reserve may delay interest rate cuts. However, U.S. Bank Wealth Management's chief equity strategist believes that the market rally is not over, and European earnings are expected to sustain their current levels. Additionally, Robinhood Markets and Lyft saw significant stock movements after posting surprise earnings and revenue beats.

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