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The Dow falls more than 200 points while the S&P 500 threatens to cross into a bear market.
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 Dole PLC shares slid 3% in premarket trade Tuesday, after the distributor of fruit and vegetables swung to a loss for the first quarter and posted revenue that fell short of estimates. Dole posted a net loss of $1.4 million, or 1 cent a share, for the quarter, after income of $21.3 million, or 38 cents a share, in the year-earlier period. Adjusted per-share earnings came to 30 cents, ahead of the 27 cent FactSet consensus. Revenue rose to $2.245 billion from $1.051 billion a year ago, below the $2.324 billion FactSet consensus. "We are pleased with the result that the Group has delivered for the first quarter of 2022 particularly as we were impacted by the Value Added salads recall and foreign currency translation movements in the quarter," CEO Carl McCann said in a statement. The recall and currency moves shaved $112 million off revenue in the quarter, he said. The company is now expecting full-year revenue to range from $9.4 billion to $9.7 billion, compared with a FactSet consensus of $9.7 billion. Shares have fallen 16% in the year to date, while the S&P 500 has fallen 16.6%.
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The Food and Drug Administration said Monday an advisory panel would meet June 15 to discuss use of the vaccines developed by Pfizer Inc. and German partner BioNTech SE as well as the one developed by Moderna Inc. in children aged 6 months to four years old. The announcement came after Pfizer and BioNTech said three doses of their vaccine proved 80% effective at preventing symptomatic infections in children in that cohort. If the panel adopts a positive opinion on the shots, the FDA could authorize them by as soon as June 16 or 17, bringing relief to parents of children who will finally be eligible for vaccination.
COVID cases continue to rise across the U.S. and trend at the highest levels seen since March, driven by the BA.2 variant of omicron, and two other subvariants that appear to be even more infectious. The U.S. is averaging 107,316 cases a day, up 46% from two weeks ago, according to a New York Times tracker. The country is averaging 24,747 hospitalizations a day, up 28% from two weeks ago. The daily death toll has fallen to 312 on average, down 15% from two weeks ago. Cases are higher in nearly every state, but the Northeast and Midwest are being particularly hard hit with case reports in both regions now higher than they were at the peak of last summer's delta surge. There are concerns that case numbers are even higher, as many people are now testing at home and the data is not being collected.
On a global basis, total cases are now above 5256 million. Total deaths are above 6.27 million, according to data aggregated by Johns Hopkins University, with the U.S. still leading the way with 83.4 million cases and 1,002,377 deaths.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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Dow Jones Futures Fall, Tech Futures Sell Off As Snap Crashes 30% On Q2 Warning Investor's Business DailyAsia stocks slip with US futures, euro holds gains By Reuters Investing.comS&P Futures Show Speculation on End-Of-Day Gains BarchartStocks, Futures Decline on China Angst, Tech Slide: Markets Wrap Yahoo Canada FinanceAsian markets under pressure amid concerns over inflation, rising rates ANC 24/7View Full Coverage on Google News
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 Snap stock tumbles 30% after warning about deteriorating economy, sending other tech stocks falling. Is Snap the canary in the coal mine?
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