2023-07-21 01:09:29
U.S. companies’ latest performance announcements were mixed, and U.S. stocks developed individually overnight. The Dow once rose more than 300 points; however, the Nasdaq fell more than 2%, mainly dragged down by the decline in Tesla’s (US: TSLA) stock price.
Tesla (US: TSLA) shares closed at US$262.9 overnight, down 9.7%, the biggest one-day drop since April 20. Tesla (US: TSLA)’s second-quarter results missed market expectations. Musk pointed out that the uncertain global economic outlook may further hit the group’s profit margins. If global central banks continue to raise interest rates, car prices may have room to fall further. In addition, Tesla is recalling nearly 16,000 Model S and Model X vehicles manufactured between 2021 and 2023 because of the risk of the front seat belts falling off.
In addition, Amazon (AMZN
) also fell 4%; Meta (US: META) and Nvidia (US: NVDA) shares fell 4.3% and 3.3% respectively; Microsoft (US: MSFT) and Apple (US: AAPL) fell 2.3% and 1% respectively.
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