The daily business briefing: April 27, 2022

Stock futures rebound after Tuesday's selloff, Tesla shares plunge after Musk reaches Twitter takeover deal, and more

The New York Stock Exchange
The New York Stock Exchange
(Image credit: Spencer Platt/Getty Images)

1. Stock futures rise after tech-fueled selloff

U.S. stock futures rose early Wednesday, putting Wall Street on track to regain some of its losses in a Tuesday tech-fueled selloff. Futures tied to the Dow Jones Industrial Average, the S&P 500, and the tech-heavy Nasdaq were all up by more than 1 percent at 6:30 a.m. ET. The Nasdaq plunged by nearly 4 percent on Tuesday, its biggest one-day decline since September 2020, leaving it at a fresh 52-week low about 23 percent below its high. The Dow fell 809 points or 2.4 percent on Tuesday on mounting concerns about inflation, rising interest rates, and China's COVID-19 outbreak. Big companies are continuing to report earnings, with Ford Motor and Facebook parent Meta posting results Wednesday.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.