Sunday, August 3, 2025

Creating liberating content

NEW DELHI: In a bid to address the longstanding confusion

JSW Cement, the building materials arm of Sajjan Jindal-led JSW

MUMBAI: A sharp increase in provisions pulled down quarterly profit

Related News

NEW DELHI: In a bid to address the longstanding confusion over speed limits, the road transport ministry has proposed that the Centre set the speed limits for NHs and expressways

Mahindra & Mahindra Ltd (M&M) on Saturday said it has completed the acquisition of a 58.96% controlling stake in commercial vehicle maker SML Isuzu Ltd from Japan’s Sumitomo Corporation and

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

MUMBAI: A sharp increase in provisions pulled down quarterly profit at Federal Bank, India’s sixth-largest private lender, even as asset quality and core earnings improved. Net profit declined 14.6% to

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Trending News

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

Russia-backed Nayara Energy looks at India’s state-run oil companies to offload petrol, diesel exports Nayara Energy has approached Indian state-run oil marketing companies (OMCs) to offload its export volumes of

US President Donald Trump on Saturday claimed that he had “heard” reports of India halting Russian oil imports, hailing it as a “good step”. “I understand that India is no

Trump-Musk rift rattles Wall Street; Tesla share slide exposes market fragility; major indexes take a hit

Word Count: 760 | Estimated Reading Time: 4 minutes


Trump-Musk rift rattles Wall Street; Tesla share slide exposes market fragility; major indexes take a hit

The public feud between US President Donald Trump and Tesla CEO Elon Musk has turned into both a political and a Wall Street drama, raising investor concerns and exposing the vulnerability of stock markets to sharp moves in major companies.The clash, which played out mostly on social media, triggered a 14% drop in Tesla shares on Thursday, after Trump threatened to cut off government contracts to Musk’s companies. Thursday’s decline reduced Tesla’s market value by approximately $150 billion, with its weight in the S&P 500 and Nasdaq 100 at 1.6% and 2.6%, respectively.Tesla shares recovered partially on Friday, increasing about 5% by mid-day, reaching a market value of around $970 billion. Microsoft and Nvidia, both valued above $3 trillion, maintained weights of 6.9% and 6.8% in the S&P 500 as of Thursday.Despite a slight recovery on Friday, Thursday’s sharp fall weighed heavily on major US indexes, with Tesla alone accounting for nearly half the day’s declines.The company’s decline made up nearly half of the day’s losses for both the S&P 500 and the Nasdaq 100, which fell 0.5% and 0.8% respectively. The S&P 500 is widely seen as the key benchmark for the US stock market, while the tech-focused Nasdaq 100 underpins the popular Invesco QQQ ETF.“It’s a widely held stock,” said Robert Pavlik, senior portfolio manager at Dakota Wealth told Reuters. “When this big-name company that represents a sizable portion of the index sells off, it has an overall effect on the index, but it also has a psychological effect on investors,” Pavlk added.The situation highlights long-standing concerns about index concentration in a small number of large-capitalisation stocks.The “Magnificent Seven”, including Apple, Microsoft and Nvidia, collectively represented nearly one-third of the S&P 500’s total weight as of Thursday’s close. Though Tesla is the smallest among these tech and growth giants, it played a major role in driving index gains in 2023 and 2024.While 2025 started off uncertain, recent trends suggest signs of recovery.Tesla shares have dropped around 37% since mid-December, while the S&P 500 has fallen just 1% in the same period—reducing Tesla’s overall influence on the index.Tesla is included in about 10% of the roughly 4,200 ETFs, giving it wide market exposure, according to Todd Sohn, ETF and technical strategist at Strategas. Some major funds affected include the Consumer Discretionary Select Sector SPDR Fund, which fell 2.5% on Thursday, and the Roundhill Magnificent Seven ETF, which declined 2.6%.“It’s very important to know holistically what is in all your ETFs, because a lot of them are overlapping,” the analyst noted.





Source link

Most Popular Articles

Sign In

Welcome ! Log into Your Account