INTV - Apple Microsoft lead big tech losses as inflation fears rise

Big-name tech stocks such as Apple (NASDAQ:AAPL), Intel (NASDAQ:INTC), Microsoft (NASDAQ:MSFT) and HP Inc. (HPQ) were unable to put the brakes on a day of losses, Wednesday, as the sector was caught up in broad selloff spurred on by the disappointing quarterly results from two of America's biggest retailers. Target (TGT) shares ended the day down by nearly 25% after the retailer reported first-quarter results that failed to meet Wall Street's forecasts, and also gave a second-quarter outlook that was weaker than expected. Target (TGT) cited higher fuel costs among the reasons impacting its earnings and sales. Wal-Mart (WMT) fell almost 7% in the wake of its weaker-than-expected report and outlook in which it also said business was hampered by rising fuel costs and inflation. And it was consumer fears about inflation not easing any time soon that spurred investors into selling mode, and which drove down the shares of many tech bellwethers. Among

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Apple, Microsoft lead big tech losses as inflation fears rise