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Dow tumbles 500 points as Wall Street sells off Big Tech [CNN]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
historic highs. The Dow was more than 500 points lower by midday, the S&P 500 lost 1.6% and the Nasdaq Composite was down by 2.2% after a selloff in Big Tech stocks. Shares of Tesla ( TSLA ) fell by around 4.5%, while Amazon ( AMZN ), Alphabet ( GOOG ), Microsoft ( MSFT )and Nvidia ( NVDA ) were all lower by around 2%. Bitcoin's tremendous late-year rally also fizzled, as traders looked to profit taking. The cryptocurrency plunged to around $93,900 Friday after topping $106,000 earlier this month on hopes that President-elect Donald Trump will usher in a crypto-friendly administration when he returns to the White House next month. Treasury yields rose Friday, with the 10-year passing 4.6%, potentially pushing some trading out of equities. Trading volume was thin due to the shortened holiday week, magnifying any moves. Despite the selloff in equities, there's really no big news markets are reacting to: Such dramatic market moves have become something of a Christmas week tradit
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