Tesla Falls After Morning Rise as U.S. Stocks Extend Tech Selloff

Tesla shares fell after an early Friday rise following its Roadster showcase, while a technology-led selloff pushed the S&P 500 down 1.1% and the Dow lower at the close. The S&P 500 finished at 7,659.44, down 84.62 points. The Dow Jones Industrial Average fell 175.28 points, or 0.3%, to 52,002.41. The Nasdaq Composite and Russell 2000 also ended lower as technology and chip shares remained under pressure. The S&P’s percentage decline was steeper than the Dow’s. Tesla shares initially rose in morning trading Friday, Oct. 16, after the company’s Roadster demonstration the previous day. They later fell as technology stocks sold off. The demonstration showed the Roadster making brief airborne maneuvers with cold-gas thrusters and a suction system.

BeCrypto News shows a short excerpt and links to the publisher. The full report belongs to TokenPost.