Apple pause, Lyft layoffs herald new phase of tech austerity

Tech companies made moves earlier this year to rein in costs, with many of the industry’s biggest firms freezing hiring or cutting some departments. Even Apple Inc., which has outperformed most of its peers this year, is slowing spending and has paused much of its hiring.

Alphabet, Microsoft lead bear-market earnings season

Shares of Meta have lost 61%, their biggest drop since the company went public a decade ago. Apple, Alphabet, Amazon and Microsoft are set for their steepest declines since the global financial crisis.