Snap’s warning about a rapidly sliding economy sent shock waves through the stock market.
The management team at Snap Inc. minced no words May 23, saying “the macroeconomic environment has deteriorated further and faster than anticipated.” That led the company to say it will miss the low end of its month-old guidance for second-quarter revenue.Snap’s... The management team at Snap Inc. minced no words May 23, saying “the macroeconomic environment has deteriorated further and faster than anticipated.
Another sign of investors’ flight to safety was purchase volume that pushed the yield on 10-year U.S. Treasury notes TMUBMUSD10Y down 13 basis points to 2.74%.More about Snap’s warning and its aftershocks:
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