Morning Report: US sharemarkets fell from record highs on Tuesday

Regulatory fears surrounding China’s technology sector weighed on investor sentiment. Shares of Amazon (-2.0%) and Facebook (-1.3%) both fell. Apple (-1.5%) and Microsoft (-0.9%) shares tumbled ahead of their earnings reports. Shares of Tesla fell by 2.0%, while General Electric rose by 1.2% after both reported results that beat analysts’ estimates. UPS shares lost 7.0% as its revenue disappointed. Intel shares sank 2.1% after it said its factories would start building Qualcomm (-1.8%) chips. The Dow Jones index fell by 86 points or 0.2%. The S&P 500 index lost 0.5% and the Nasdaq index shed 180 points or 1.2%.