Morning Report 20 May 22: US sharemarkets fell on Thursday

Investors weighed prospects for economic growth against a backdrop of rising prices and tightening monetary policy. Shares of tech bellwether Cisco Systems slumped 13.7% after it cut its full-year revenue growth forecast. Under Armour shares shed 11.9% after the surprise departure of the sportswear maker's CEO Patrik Frisk. But shares of software company Synopsys lifted 10.3% after an earnings beat. The Dow Jones index closed lower by 237 points or 0.8%. The S&P 500 index dipped 0.6% and the Nasdaq index shed 30 points or 0.3%.   

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