Nasdaq Down 400 Points; Tesla Shares Fall After Q3 Results

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

Following the market opening Thursday, the Dow traded down 0.25% to 52,721.79 while the NASDAQ dipped 1.54% to 26,291.50. The S&P 500 also fell, dropping, 0.82% to 7,693.36.

Leading and Lagging Sectors

Consumer staples shares jumped by 1.4% on Thursday.

In trading on Thursday, communication services stocks fell by 2.2%.

Top Headline

Shares of Tesla, Inc. (NASDAQ:TSLA) fell around 2% on Thursday after the company reported results for the third quarter.

Tesla reported third-quarter revenue of $28.05 billion, flat from the prior year’s third quarter. The revenue total beat a Street consensus estimate of $27.88 billion, according to data from Benzinga Pro. Tesla reported adjusted earnings of 48 cents per share, beating a Street consensus estimate of 43 cents per share.

Equities Trading UP           

• SHF Holdings, Inc. (NASDAQ:SHFS) shares shot up 61% to $0.2485 after the company raised its first-quarter sales guidance above estimates.
• Shares of STAK Inc. (NASDAQ:STAK) got a boost, surging 46% to $1.4600 after the company reported a year-over-year increase in its FY26 financial results.
• Netcapital Inc. (NASDAQ:NCPL) shares were also up, gaining 36% to $2.1372.

Equities Trading DOWN

• Avalo Therapeutics, Inc (NASDAQ:AVTX) shares dipped 40% to $7.37.
• Shares of Pomdoctor Limited (NASDAQ:POM) were down 28% to $2.15.
• NVE Corporation (NASDAQ:NVEC) was down, falling 30% to $72.63 after the company reported a year-over-year decrease in second-quarter financial results.

Commodities In commodity news, oil traded up 2% to $99.13 while gold traded down 1.9% at $4,071.00.

Silver traded down 4.4% to $55.165 on Thursday, while copper fell 2.2% to $6.4335.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.5%, while Spain’s IBEX 35 Index fell 1.4%, London’s FTSE 100 rose 0.1%, Germany’s DAX fell 0.4%, while France’s CAC 40 dipped 1%.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan’s Nikkei 225 dipping 2.65%, Hong Kong’s Hang Seng index falling 3.03%, China’s SSE Composite Index dipping 1.48% and India’s BSE Sensex falling 0.62%.

Economics

U.S. initial jobless claims fell by 6,000 to 194,000 in the week ended Oct. 17, compared to market estimates of 200,000 and down from a revised reading of 200,000 in the previous week.

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