Coca-Cola Rose Tesla Falls due to Fatal Accident
The U.S. stock market fell back from its record high last week on Monday and various stocks such as technology stocks and retail stocks have fallen across the board.
The Dow Jones Industrial Average fell 123.04 points, or 0.4%, to 34,077.63. The S&P 500 index fell 0.5% to 4,163.26 points, the largest drop in nearly four weeks; the Nasdaq Composite Index closed down 137.58 points, or nearly 1%, to close at 13,914.77 points.
Tesla has caused the biggest drag on the S&P 500 Index and the Nasdaq Composite Index. Tesla’s investment in Bitcoin has plunged, which has also weighed on the stock price.
Tesla shares fell 3.4% after a allegedly driverless Tesla car crashed into a tree in northern Houston on Saturday, killing two passengers in the car.
Microsoft, Amazon and Nvidia are also dragging down the S&P 500 index, and analysts await most of the corporate earnings reports that will be released this week and next week. Refuge
IBES data shows that analysts expect the company’s profit in the first quarter to grow by 30.9%.
Huida plunged 3.5%. The British government stated that it will investigate the national security impact of Huida’s acquisition of British chip design company ARM Holdings, which has put a question mark on whether this $40 billion transaction can pass.
Peloton plunged 7.3% after a federal security agency said over the weekend that people with children or pets should not use treadmills from the connected fitness company.
IBM fell 0.4% after the company announced its earnings report after the market.
Coca-Cola rose 0.6%. The company announced that its profit and revenue exceeded expectations last quarter, thanks to the relaxation of epidemic restrictions and widespread vaccination.
GameStop jumped 6.3%, and the company announced the resignation of its CEO.
Motorcycle maker Harley-Davidson surged 9.7% after the company raised its full-year sales growth forecast.
Cryptocurrency-related stocks, including mining companies Riot Block Chain and Marathon Digital, fell more than 8%, and Bitcoin suffered heavy losses over the weekend. Bitcoin closed down 0.7% on Monday.