Tuesday, 3 April 2018

Spotify IPO — What you need to know in markets on Tuesday.

Spotify CEO Daniel Ek
After a rough first quarter, the second quarter did not greet investors with better news.

Stocks got slammed on Tuesday with tech stocks again lagging the market as Amazon (AMZN) dropped 5% and was again in the headlines following a tweet from President Donald Trump.

Other major losers on Monday included Intel (INTC), which dropped as much as 9% after a Bloomberg report said Apple (AAPL) is planning to make its own chips for Macs by 2020. Apple accounts for about 5% of Intel’s annual revenue.

And into this decidedly negative outlook for the broader market, Spotify (SPOT) will makes its public debut on Tuesday as the streaming music service will begin trading after a direct listing on the New York Stock Exchange.

By Myles Udland.

Full story at Yahoo News.

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