Tech Stocks Slump Despite Strong Earnings as High Expectations Weigh on Valuations
• Tech stocks slump as Alphabet, Microsoft, and Tesla disappoint despite strong earnings • High expectations and last year's big stock rallies weigh on current tech valuations • Fed widely expected to leave interest rates unchanged, but may hint at future cuts • Pay and benefits data suggest cooler wage gains, easing Fed inflation fears • China stocks drop again on economic and real estate worries, other markets mixed