Stocks closed lower again Wednesday as investors took in the latest round of corporate earnings reports and looked ahead to tomorrow's key inflation update. Another day of notable losses for several tech- and tech-adjacent stocks didn't help matters, with the Nasdaq Composite extending its outsized August decline.
With little in the way of economic news, investors turned their attention to a fresh batch of earnings reports – most of which were disappointing. Roblox (RBLX), for instance, plunged 21.9% after the gaming company reported a second-quarter loss of 46 cents per share vs its year-ago loss of 30 cents per share. Revenue was up 15.2% year-over-year to a higher-than-expected $680.1 million, while bookings rose 22% to $780.7 million, below what analysts were anticipating.
