Wall Street opens mixed, Nasdaq drops sharply amid tech selloff

Major equity indexes in the United States started the day mixed on Tuesday as investors are assessing the latest batch of first-quarter earnings reports. As of writing, the Dow Jones Industrial Average was up 0.05% on the day while the S&P 500 and the Nasdaq Composite were falling 0.25% and 0.7%, respectively.

Google parent Alphabet's stocks came under a strong selling pressure today after the company reported a revenue of $36.34 billion in the first quarter, which fell short of the market expectation of $37.33 billion. In the early trade, shares of the company are down more than 8%, weighing on the S&P 500 Communications Services Index and forcing it to lose more than 2%.

On the other hand, the S&P 500 Energy Index is leading the gains by adding more than 0.55% on the back of rising crude oil prices amid the turmoil in Venezuela.