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The Dow sinks 500 points as Nvidia and Tesla lead tech decline [Yahoo! Finance]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
The Dow fell sharply on Friday, dropping more than 500 points as tech giants within the so-called “Magnificent Seven” saw significant declines. The Dow Jones Industrial Average lost 542 points, or 1.25%, by Friday afternoon, erasing much of the market's gains from the holiday-shortened week. Meanwhile, the S&P 500 slipped 1.6% and the tech-heavy Nasdaq Composite dropped 2.3%. Additionally, the yield on the benchmark 10-year Treasury note rose to 4.58%. The tech sector faced widespread selling pressure, with the “Magnificent Seven” mega-cap stocks trading in the red. Amazon ( AMZN ) slid 2.2%, Apple ( AAPL ) lost 2%, Tesla ( TSLA ) dropped 4.8%, Microsoft ( MSFT ) fell 2.4%, Alphabet ( GOOGL ), the parent company of Google, declined 2.5%, and Meta Platforms ( META ) shed 2%. Investors continued to offload AI stocks on Friday, locking in profits during the holiday season. Shares of Super Micro Computer ( SMCI ), Palantir ( PLTR ), and Nvidia ( NVDA ) — another Magnificent Seven s
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