S&P 500 tumbles for a second day, dragged lower by Microsoft and Meta: Live updates

Specialist traders work inside a post on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., October 23, 2024.Brendan McDermid | ReutersStocks slid on Thursday as Wall Street digested discouraging quarterly reports from megacap technology names and awaited further results.The S&P 500 tumbled 1.6%, while the Nasdaq Composite lost 2.4%. Both indexes are on track for a second straight day of declines. The Dow Jones Industrial Average slid 425 points, or 1%.Microsoft shares slid 6% after the tech giant’s revenue guidance disappointed investors and overshadowed a quarterly earnings beat. Meta Platforms dropped more than 3% after the Facebook parent missed the Street’s expectations for user growth and warning that capital expenditures will significantly rise in 2025. To be sure, Meta managed to beat on both top- and bottom-lines in the third quarter.”I think we’re getting to the point where AI enthusiasm and potential is not enough. These companies, while they’re…