Morning Report 25 May 22: US sharemarkets were mixed on Tuesday

Weighing on sentiment was a profit warning from Snapchat owner, Snap Inc., with its shares sliding 43.1%. Technology stocks were generally lower. Shares in apparel retailer Abercrombie & Fitch fell by 28.6% after posting a quarterly loss and cutting its annual sales and margins outlook. But shares in Zoom Video Communications rose 5.6% after it raised it full-year profit forecast. The Dow Jones index closed higher by 48 points or 0.2% after being down 515 points earlier. The S&P 500 index fell by 0.8%. And the Nasdaq index lost 271 points or 2.4%.

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