The US markets dipped more than 1% across the key indices on Wednesday as investor confidence was dampened by rising energy prices, rising inflation and ongoing geopolitical tensions with Russia. Adobe shares plunged 9.3% on Wednesday after the software giant released first quarter results. Despite exceeding estimates for the first quarter, investors sold out of Adobe shares after the company downgraded its annual recurring revenue forecast by 75 million US dollars for FY22 amid the company halting sales to Russia. A spotlight on Boeing as shares in the aircraft manufacturer continued to decline on Wednesday as investors keep a close eye on the investigation of the China Eastern Airlines flight that crashed in Southern China on Monday. One of the two black boxes from the crashed Boeing 737 jet has been found which could reveal the reason for the plane?s crash. Toyota and Aurora Innovation Inc. have begun testing autonomous ride-hailing fleets in Texas with two safety operators and no passengers on board.
VIDEO: Adobe plunged 9.3% on FY22 forecast downgrade
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