Stock Markets Stay Under Pressure as Twitter Reels from Hack; Earnings Hit Bank of America
Thursday morning brought a modest pullback to the stock market as investors weighed the latest economic data. New jobless claims for the week came in worse than many had expected, and that sent markets sharply lower at the beginning of the session. Yet ongoing optimism about the future helped most indexes recover somewhat from their worst levels. Just after 11 a.m. EDT, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 85 points to 26,785. The S&P 500 (SNPINDEX: ^GSPC) was off 23 points at 3,204, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had given up 175 points to 10,375.
Earnings season has begun in earnest, and Bank of America (NYSE: BAC) was the latest major financial institution to talk about its results for the recently ended quarter. But first, Twitter (NYSE: TWTR) made news for an entirely different reason, as a cyberattack revealed an embarrassing vulnerability within the platform that could hurt its reputation.
Shares of Twitter were down 2% late Thursday morning after having been down as much 5% earlier. The social media service suffered a major cyberattack late Wednesday, and the way in which it happened has put its management on the hot seat.
Source Fool.com
