Tesla pulls S&P 500 lower for second day in index
By Noel Randewich
(Reuters) – Shares of Tesla dropped 4% on Tuesday, down for a second straight day following {the electrical} automotive maker’s debut in the S&P 500.
The stock has misplaced 10% since Friday, when it hit a report extreme as funding funds that passively observe the S&P 500 bought $90 billion worth of Tesla shares in order that their portfolios mirrored the changes to the Wall Street’s most adopted benchmark.
For a second day, Tesla’s stock contributed higher than another to the S&P 500’s decline. The S&P 500 was last down 0.1%.
Losses on Monday accelerated late in the session after Reuters reported that Apple is concentrating on 2024 to produce a passenger automotive that may embrace its private breakthrough battery experience.
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