US Market today: Why is Tesla share price falling? Check top gainers and losers in the US markets
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What happened in the US stock market today?
- US stocks ended lower on Thursday. Nasdaq down 1.4%, S&P 500 dropped 0.8% and Dow Jones declined 0.3%.
- Investors' sentiments remained sour after the US Central Bank raised interest rates by 0.75%, and indicated that it will hike rates further to fight inflation.
- Growth-oriented tech stocks and semiconductors fell on Thursday amid fears of slowing economic growth.
- Airline stocks also took a hit, with shares of United, American Airlines and Delta down roughly 4% each.
- Eli Lilly share price gained 4.9% after UBS upgraded the stock and said it could be developing the biggest drug ever.
US stock market today: Top gainers and losers
| Stock price action | Reason behind the move |
|---|---|
| Adobe ended flat | Adobe share price ended flat after touching 1-year low, valuation concerns arising from Figma acquisition deal led to weakness. |
| Airbnb fell 9% | Airbnb share price ended sharply lower amid concerns over possible lockdowns in more chinese cities, stock down 14% in last 5-trading sessions. |
| Amazon fell 1% | Amazon share price extended fall amid reports of UK regulator's probe over market monopoly. |
| AMD lost 7% | AMD share price fell along other chip stocks after Bank of America research raised concerns over earnings growth outlook. |
| Apple fell 1% | Apple share price fell over reports of a possible deal with Chinese chipmaker, US senators seek details. |
| ARK Innovation ETF fell 4% | ARK Innovation ETF price fell, driven by the losses in underlying growth stocks of Roku, Coinbase and Shopify. |
| Bank Of America fell 2% | Bank Of America share price fell along with other bank stocks as US senators grilled CEOs on consumer protections, social issues. |
| Berkshire Hathaway fell 1% | Berkshire Hathaway share price extended fall along with financial stocks after the US central bank's decision of 0.75% interest rate hike. |
| Cloudflare fell 8% | Cloudflare share price fell sharply over reports of exit by many investors, management selling stocks in open market. |
| Coinbase crashed 7% | Coinbase share price ended fell over reports of a new speculative crypto trading venture, regulatory probe eyed. |
| Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF fell 4% | Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares ETF price fell driven by losses in energy stocks of Antero Resources and Devon Energy. |
| Direxion Daily Semiconductor Bull 3X Shares ETF fell 8% | Direxion Daily Semiconductor Bull 3X Shares ETF price fell, tracking the losses in chip stocks of AMD, NVIDIA and Marvell Tech. |
| Direxion Daily Technology Bull 3X Shares ETF fell 3% | Direxion Daily Technology Bull 3X Shares ETF price fell, driven by losses in the shares of NVIDIA, PayPal and Mastercard. |
| Disney fell 2% | Disney share price fell post analysts' concerns over theme park business's revenue growth, stock down 11% in last 1-month. |
| Ford lost 2% | Ford share price fell amid reports of management shuffle amid global supply chain concerns, stock down 13% in last 5-trading sessions. |
| Global X Lithium & Battery Tech ETF fell 2% | Global X Lithium & Battery Tech ETF price fell tracking lithium prices and losses in underlying stock of Albemarle Corporation. |
| Google (Alphabet) rose 1% | Google (Alphabet) share price rose slightly after touching 1-year low, report of favorable long term outlook by Raymond James brokerage. |
| Intuit crashed 3% | Intuit share price extended fall, down 12% since last 1-month, driven by weak earnings growth outlook. |
| Invesco NASDAQ 100 ETF fell 1% | Invesco NASDAQ 100 ETF price fell tracking the losses in tech stocks driven by recession fears post the US central bank's decision of 0.75% interest rate hike. |
| Invesco QQQ Trust Series 1 ETF fell 1% | Invesco QQQ Trust Series 1 ETF price fell tracking the losses in tech stocks driven by recession fears post the US central bank's decision of 0.75% interest rate hike. |
| JPMorgan fell 1% | JPMorgan share price fell along with other bank stocks as US senators grilled CEOs on consumer protections, social issues. |
| Mastercard fell 2% | Mastercard share price touched 1-year low amid reports of potential regulatory actions over 'Buy Now Pay Later' business. |
| Meta (Facebook) ended flat | Meta (Facebook) share price ended flat after touching 1-year low, reports of regulatory probe over users' tracking on iOS capped gains. |
| Microsoft ended 1% higher | Microsoft share price rose slightly after touching 1-year low, legal hurdle in UK for $69 billion Activision acquisition deal capped gains. |
| Nike fell 1% | Nike share price touched 1-year low post weak growth forecast, brokerage downgrades. |
| Nio ended flat | Nio share price ended flat, geopolitical concerns due to Russia's ties to China, more potential lockdowns led to volatility. |
| ProShares Bitcoin Strategy ETF rose 2% | ProShares Bitcoin Strategy ETF price rose driven by gains in Bitcoin prices and trading volumes. |
| ProShares Ultra Semiconductors fell 6% | ProShares Ultra Semiconductors ETF price fell tracking the losses in chip stocks of NVIDIA and Intel. |
| ProShares UltraPro S&P 500 ETF lost 3% | ProShares UltraPro S&P 500 ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Roblox fell 2% | Roblox share price extended fall over weaker than anticipated August month numbers for daily active users and revenue. |
| S&P 500 ETF fell 1% | S&P 500 ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Shopify fell 6% | Shopify share price touched 1-year low, concerns over short term growth outlook hurt investor sentiments. |
| Tesla fell 4% | Tesla share price ended lower driven by an order from the National Highways Traffic Safety Administration to initiate a recall of over a million vehicles. |
| Vanguard S&P 500 ETF fell 1% | Vanguard S&P 500 ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
| Vanguard S&P 500 Growth ETF fell 1% | Vanguard S&P 500 Growth ETF price extended decline driven by recession fears after the 0.75% hike in interest rate by US central bank. |
Why did Tesla share price fall?
Tesla share price ended lower driven by an order from the National Highways Traffic Safety Administration to initiate a recall of over a million vehicles.
Why did Airbnb stock crash?
Airbnb share price ended sharply lower amid concerns over possible lockdowns in more chinese cities, stock down 14% in last 5-trading sessions.
Why is AMD share price falling?
AMD share price fell along other chip stocks after Bank of America research raised concerns over earnings growth outlook.
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