Market Recap – December 14
U.S. markets slid on Tuesday following the release of a fresh economic report that affirmed red-hot inflation levels, sending tech stocks spiraling for the second trading session this week.
The S&P 500 slumped more than 1% and the tech-heavy Nasdaq fell 1.73%. The Dow fell about 100 points after initially opening higher.
Tesla — up around 35% in 2021 — fell 1% early Tuesday after CEO Elon Musk sold another $906.5 million worth of shares. Meanwhile, Ford dropped 1%, hit by plans from Toyota to invest $35 billion into battery powered EVs, an area that Ford wants to establish itself as a leader.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.