For its part, Alibaba Group fell after rising more than 15% the previous day. This day the Asian giant announced that its subsidiary Ant Group has no plans to start an initial public offering.
Tesla, meanwhile, reported Thursday that it sold 32,165 Chinese-made vehicles last month, up sharply from 1,152 in April. Also, brokerage UBS updated the stock to “buy” and raised its earnings estimates for the next three years.
This day, US stocks closed lower. “There was a general decline that particularly affected the Nasdaq, as investors were cautious awaiting data on Friday, which is expected to show that consumer prices remained high in May,” the traders said.
All 11 sectors of the S&P 500 were in negative territory, with communication services falling the most.
According to preliminary data, the S&P 500 lost 98.07 points, or 2.38%, to 4,017.70 points, while the Nasdaq lost 332.49 points, or 2.75%, to 11,753.78. The Dow Jones Industrial Average fell 640.45 points, or 1.95%, to 32,270.45.
Source: Ambito
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