Nasdaq Down Over 400 Points; Tesla Shares Tumbles After Q2 Results

U.S. stocks traded lower this morning, with the Nasdaq Composite falling more than 400 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.95% to 51,720.30 while the NASDAQ declined 1.58% to 25,286.26.

The S&P 500 also fell, dropping, 0.86% to 7,434.23.

Leading and Lagging Sectors Industrials shares jumped by 2.2% on Thursday.

In trading on Thursday, communication services stocks fell by 4.4%.

Top Headline Tesla Inc. (NASDAQ: TSLA ) shares dipped more than 12% on Thursday after the company reported mixed second-quarter financial results.

Tesla reported second-quarter revenue of $28.24 billion.

The total beat a Street consensus estimate of $25.71 billion, according to data Pro.

Second-quarter earnings of 33 cents per share missed a Street consensus estimate of 50 cents per share.

Equities Trading UP Eshallgo Inc (NASDAQ: EHGO ) shares shot up 77% to $3.12.

Shares of Callan JMB Inc (NASDAQ: CJMB ) got a boost, surging 70% to $2.85.

Lucas GC Ltd ( NASDAQ: LGCL ) shares were also up, gaining 50% to $1.43.

Equities Trading DOWN China SXT Pharmaceuticals Inc ( NASDAQ: SXTC ) shares dropped 80% to $0.40 after the company announced a $9 million registered direct offering.

Shares of Leslie’s Inc ( NASDAQ: LESL ) were down 46% to $1.31 following reports suggesting the company is considering Chapter 11 Bankruptcy.

C3is Inc (NASDAQ: CISS ) was down, falling 26% to $1.20.

Commodities In commodity news, oil traded up 5.5% to $91.64 while gold traded down 2.3% at $4,056.00.

Silver traded down 3.5% to $58.170 on Thursday, while copper fell 1.5% to $6.3960.

Euro zone European shares were lower today.

The eurozone’s STOXX 600 fell 1.1%, while Spain’s IBEX 35 Index dipped 1.3% London’s FTSE 100 fell 0.7%, Germany’s DAX declined 1.2%, while France’s CAC 40 tumbled 1.6%.

Asia Pacific Markets Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.46%, Hong Kong’s Hang Seng index surging 1.28%, China’s Shanghai Composite rising 0.25% and India’s BSE Sensex falling 0.47%.

Economics U.S. initial jobless claims US fell by 22,000 to 187,000 in the week ending July 18, compared to market estimates of 212,000.

The Chicago Fed National Activity Index climbed to -0.02 in June from -0.19 in the previous month.

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