TELETRADER News
5/10, 8:30 PM (Source: TeleTrader)
more TeleTrader news

Nasdaq plunges more than 2% as Tesla, Facebook plummet

The Nasdaq 100 sank deeper into the red on Monday, losing more than 2% or 300 points dragged seemingly by the shares of tech giants Apple and Facebook, as well as the carmaker Tesla.

The disproportion between the Dow Jones Industrial Average, which reached another record in today's session, and the tech-heavy index was attributed by some outlets to the benefits that Dow's constituents stand to gain from the economic recovery.

The Nasdaq 100 tumbled 2.35% or 324 points at 2:29 pm ET, with Tesla and Facebook losing more than 5% and 4%, respectively. The Dow Jones pared the previous spike but remained above the flatline by 0.29% or 93 points a minute later. At 2:30 pm ET, the S&P 500 lost 0.65%. The euro slid 0.13% compared to the dollar, selling for 1.21483 at 2:33 pm ET.

Breaking the News / BU