Tesla, Netflix Drag Nasdaq Down Hard
The stock market had a tough day on Friday, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) suffered the brunt of the downdraft. Concerns about news that President Trump and other prominent officials in the administration have tested positive for COVID-19 were enough to take the air out of the rally earlier this week. The Nasdaq ended up losing more than 2% on the day.
The most prominent stocks in the Nasdaq have been among the best performers recently, and both Tesla (NASDAQ: TSLA) and Netflix (NASDAQ: NFLX) have made solid contributions to the bull market. On Friday, though, both finished sharply lower. Here's why.
Tesla shares finished down more than 7% on Friday, giving up all their gains from earlier in the week. The automaker released its much-anticipated delivery numbers for the third quarter, and given how good they were, it's somewhat surprising to see the stock fall in response.
Source Fool.com
