The Dow Jones opened down 0.8%, the S&P 500 was down 0.8%, and the Nasdaq was down 1.2%.

Netflix rose 9.2%, giving up the bid for Warner Bros. Block surged 15.6%, cutting nearly half of its employees and betting on a combination of smaller teams and smart tools. Dell rose 11.0%, exceeding expectations for both performance and guidance. CoreWeave fell 11.8%, with last quarter's losses expanding and this year's capital spending skyrocketing to $30 billion. Duolingo fell 22.3%, with daily active user growth continuing to slow.