Here’s what happened to the stock market on Tuesday

Finance

A jogger passes in front of the New York Stock Exchange (NYSE) in New York, on June 17, 2020.

Michael Nagel | Bloomberg | Getty Images

Dow Jones Industrial Average drops 632 points

Tech sell-off continues

Shares of Facebook and Amazon dropped more than 4% each. Apple and Microsoft lost 6% and 5%, respectively.  Tesla plunged 21% for its worst single day ever. “High valuations in the mega-cap stocks are stretched far beyond historical levels,” said one strategist. 

Chipmakers fall

What happens next?

Weekly mortgage applications data and job opening numbers are set for release Wednesday. 

Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world.

Products You May Like

Articles You May Like

‘Obscene inequality’: Oxfam says taxing the world’s richest could help save lives
What happens to your digital assets and cryptocurrency when you die? Even with a will, they may be overlooked
Stocks making the biggest moves premarket: Delta Air Lines, Moderna, Virgin Orbit and others
Credit Suisse needs to salvage reputation after chairman quits in latest scandal, analysts say
Activist hedge funds launched 89 campaigns in 2021. Here’s how they fared

Leave a Reply

Your email address will not be published. Required fields are marked *