Stocks plummeted at the open, with major companies such as Nike, FedEx, and Micron experiencing significant declines after disappointing investors. The S&P 500 and Nasdaq Composite fell 0.8% each, while the Dow Jones Industrial average dropped 1%.
Tesla rose 2.4%, despite shares of some Chinese electric-vehicle makers, including Nio and Xpeng, falling. Nio’s net loss widened unexpectedly, while Tesla posted a gain. FedEx cut its full-year revenue and profit forecasts due to economic softening and uncertainty.
Other notable stock movers include Carnival, which plummeted 5.8%, and Micron, whose shares fell 7.6% after missing margin estimates. Nike reported a tough quarter, citing increased tariffs on China-made goods and a softening US consumer market.
Nvidia’s shares slid 2.1% as its AI conference came to a close. The company plans to partner with quantum computing firms to build a research center integrating quantum computing with AI supercomputers.
Source: https://qz.com/stock-watch-nvidia-tesla-nike-micron-fedex-nio-carnival-1851771446