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Technology stocks weigh heavily after hours of earnings release

Wednesday was a bad day to report technological gains.


The declines came after both the Dow Jones Industrial Average and the S & P 500 closed normal trading in the red. Earlier Wednesday, Fed Chairman Jay Powell said during his testimony at Capitol Hill that "the financial conditions are now less favorable for growth than they were earlier." ;last year".

HP stock decreased by 13%. Its revenues increased 1.3% year-over-year, the lowest growth rate in two years.

"As macroeconomic uncertainty has increased, we have seen customers' increased price sensitivity, which is putting pressure on our stock and the price of our supplies," said HP's General Manager Dion. Weisler, on the conference call. "We are taking steps to reduce the level of inventory of supplies in the market, consistent with our new stock assumptions."

Square shares fell 7% after forecasting lower than expected forecasts.

The software maker Alteryx has dropped more than 5%, and Booking, the parent company of Priceline and Kayak, has dropped by 10%. Booking achieved revenue of $ 3.21 billion for the January quarter, just below Refinitiv's consensus of $ 3.22 billion.

Elastic, an open source software company that went public last year, dropped 8%, even after exceeding last quarter's estimates and providing optimistic forecasts.The largest shopping center

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