Power Breakfast: Dow Sheds Nearly 500 Points, Stocks Finish Lower On Worries Of Further Fed Rate Hikes; Tesla Tumbles 6.5%
Zee Business Video Team | Updated: December 6, 2022 08:13 AM IST
Yesterday Dow fell nearly 500 points and the NASDAQ fell over 200 points. The ISM Non-Manufacturing PMI increased from 54.4 to 56.5 (MoM). A change in the decision on interest rates is possible with better economic data. Tesla's stock fell by about 6.5%. Tech stocks tumbled on reports of production cuts at a Shanghai factory. Amazon, Netflix fell 2.5% - 3.3%. PepsiCo announced layoffs. Gitlab's stock jumped 20%, the results were better than expected. The Dollar Index jumped beyond 105. At the same time, Saudi Arabia reduced the price for Asian oil buyers.
