Facebook and Tesla Lead Nasdaq Stocks Lower
The stock market has been on an amazing run, but even the most impressive bull moves have to end sooner or later. For the Nasdaq Composite (NASDAQINDEX: ^IXIC), a run to record highs came to an end on Wednesday, with investors reacting negatively to signs that the coronavirus pandemic might not be sufficiently under control to warrant further loosening of restrictions on business activity. Both the Composite index and the Nasdaq 100 suffered declines of roughly 2%.
The biggest companies in the Nasdaq 100 have disproportionate influence over the movement of the index, and that's why big moves from top companies deserve special attention. Both Facebook (NASDAQ: FB) and Tesla (NASDAQ: TSLA) underperformed the Nasdaq today, as both companies have had to deal with some controversial issues that could linger well into the future.
Facebook saw its stock drop more than 3% Wednesday. Investors seem to be paying more attention to discord at the social media giant, which has not only affected its internal staff but also caused some of its advertisers to put pressure on the company to change some of its policies.
Source Fool.com
