While the Nasdaq rose 0.32% and the S&P rose 0.11%, the Dow Industrial Average lost 67 points or 0.2%.

Traders had a dismal day as a summer rally fizzled out on fears of rising rates, and the 10-year Treasury yield rose above 3%.

On posting strong quarterly results, Palo Alto Networks shares rose 9%, while Zoom Video shares fell 13% after the video conferencing company cut its full-year projection.

Yesterday, major stock indexes like the Dow Industrial Average, Nasdaq and S&P fell more than 2%.

The Dow and S&P posted their worst losses since June 16. Compared to June 28, today’s Nasdaq session was the weakest in nearly a month.

Lisa Shalett of Morgan Stanley Wealth Management said: “This bear, in our view, has one last act.” The chairman of the global investment committee said investors are overly optimistic and have unrealistic expectations for inflation, recession and earnings.

After lower projections, Zoom’s stock fell 14%.

Shares of the video conferencing company fell more than 14% after it lowered its outlook for the year. While Zoom’s second-quarter earnings per share of 11 cents were better than expected, the company’s sales were below estimates, likely due to the strength of the US dollar.

The latest quarterly sales increase the company reported was 8% year-over-year, down from 12% growth in the previous quarter. Zoom also said it expected online sales to decline 7% to 8% for the fiscal year.

Palo Alto Networks jumps on the earnings report.

After reporting earnings on Monday, shares of cybersecurity firm Palo Alto Networks soared 10% on Tuesday.

The company’s board of directors has authorized a 3-for-1 stock split, which will take effect in September. The company’s quarterly revenue and profit also beat Wall Street estimates.

Additionally, the company added $915 million to bring its share buyback program to $1 billion.

Several Wall Street analysts raised their price estimates for trading stocks in response to the positive news.