US stocks today: Wall Street trades in red as oil tops $100 per barrel; Nasdaq tumbles over 2%, Dow slips over 600 points
Major stock markets opened lower as Big Tech's AI spending raised investor concerns.
Alphabet and Tesla shares fell significantly after their latest quarterly earnings reports.
Oil prices surged past one hundred dollars per barrel amid Middle East tensions.
This geopolitical situation also increased expectations for a potential Federal Reserve interest rate hike.
Weak market breadth indicated more declining stocks than advancing ones across exchanges.
Tesla Plunges $200B as Tech Sells Off
- Tesla sees a $200 billion wipeout as investors pan Musk’s plan to spend ‘as fast as we can’ MarketWatch —
- Magnificent 7 Loses $767 Billion as AI Skeptics Dump Tech Stocks Bloomberg —
- ASX set to slump as oil surges over $US100, Tesla and Alphabet tumble The Age —
- Tesla stock suffers double-digit drop on carmaker’s worst day in years The Guardian —
- Earnings at Musk's Tesla fall as spending on research cuts into profit from selling cars PBS —