It was like taking a tumble at the end of a long ski run. From the New York desk, Michelle Brier reports. Investors woke up to the news that Hewlett Packard's second-quarter revenues, orders and earnings all fell below Wall Street expectations. HP's stock tumbled, taking other tech stocks with it. Chris Low is senior economist at HSBC markets.
People take it as a cue to start selling everything in that sector.
He says jitters over interest rates were more of a factor. I'm Michelle Brier for Marketplace. Half the savings in the budget come from changes to Medicare, which means a squeeze on health care providers and their elderly patients. Marketplace's Washington editor John Dimsdale reports. Even though the budget asks more of seniors, the compromise has the backing of the American Association of Retired Persons.