A global tech stock sell-off helped push stocks back from record highs on Tuesday, as investors waited for more positive news from a string of earnings reports due from American tech giants after the close of trading. Alphabet, Apple and Microsoft will provide updates on their financial performance on Tuesday. The reports come during a time of growing scrutiny of Big Tech with President Biden signing an executive order earlier this month intended to increase competition within the nation’s economy and to limit corporate dominance. Alphabet fell 1.6 percent and Apple fell 1.5 percent. Chinese stocks plunged again on Tuesday, as a crackdown by the authoritarian state continued on its homegrown tech titans.

Source: New York Times July 27, 2021 14:52 UTC