US Stocks plunged at the pre-open of the US trading session on Tuesday as global tech brands came under pressure following their worst sell-off in more than five months last week.
The Nasdaq Composite was down about 2% at the time this report was drafted and the Dow Jones Industrial Average plunged as much 1.7%. The S&P 500 lost about 1.5%.
Tesla dropped a whopping 12.88% after the S&P Dow Jones surprised investors by failing to add the fast-rising Tesla into the S&P 500 after the bell on Friday.
Investors were betting high on Tesla’s inclusion into the S&P 500, hoping for the stamp. The rejection reveals the risks to the overheating trading session currently in play.
Other leading tech stocks like Netflix, Facebook, Amazon, and Google were all down more than 1%. Apple dropped as much as 2%. Zoom Video fell by 2.5%.