Giving investors further reason for worry, FedEx Corp. lowered its earnings expectations for the fiscal second quarter and full year and Starbucks Corp. slashed its earnings forecast for the fourth quarter after it reported traffic at stores open at least 13 months dropped by 1 percent.
But tech stocks fared better. Investors have at times viewed technology companies as likely to fare better during an economic downturn than some groups such as retailers. Cisco Systems Inc., the world’s largest network equipment company
Tags: Investors, Wall Street
But tech stocks fared better. Investors have at times viewed technology companies as likely to fare better during an economic downturn than some groups such as retailers.