While the market weighed the implications of the US and Chinese leaders' phone call and anticipated further trade negotiations, tensions between US President Donald Trump and Tesla (TSLA.US) founder Elon Musk led to a plunge in Tesla's stock, weakening US stocks on Thursday.
The DJIA concluded down 108 points or 0.3%, at 42,319; the Nasdaq sagged 162 points or 0.8%, to 19,298; and the S&P 500 closed down 31 points or 0.5%, at 5,939.
Trump and Musk, once allies, turned against each other, engaging in a public spat on social media. Trump even threatened to terminate government contracts with Musk. Tesla's stock plummeted by as much as 18% to bottom at US$273.21, eventually ending down 14.3% at US$284.68.
Techs were in a mixed bag, with Nvidia (NVDA.US) and Apple (AAPL.US) both down over 1%; Meta (META.US) down 0.5%; Amazon (AMZN.US) up 0.3%; and Microsoft (MSFT.US) up 0.8%.
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AASTOCKS Financial News
Website: www.aastocks.com
| SG Top Picks |
| Stock & Type |
Code |
Strike(Call Level) |
Last |
Effective Gearing |
| TSLA (C) |
10688 |
420 (-) |
0.470 |
3.7 X |
| TSLA (C) |
10591 |
300 (-) |
0.770 |
3.6 X |
| TSLA (P) |
10692 |
280 (-) |
0.740 |
2.1 X |
| TSLA (P) |
10604 |
190 (-) |
0.153 |
3.4 X |
| Nvidia (C) |
10537 |
165 (-) |
0.031 |
12.6 X |
| Nvidia (C) |
10573 |
150 (-) |
0.211 |
5.1 X |
| Nvidia (C) |
10615 |
135 (-) |
0.350 |
4.0 X |
| Nvidia (P) |
10538 |
116 (-) |
0.037 |
8.6 X |
| Nvidia (P) |
10581 |
95 (-) |
0.048 |
4.7 X |
| META (C) |
10579 |
800 (-) |
0.490 |
7.3 X |
| META (P) |
10563 |
600 (-) |
0.350 |
6.9 X |
| APPLE (C) |
10614 |
236 (-) |
0.093 |
9.2 X |
| APPLE (P) |
10678 |
170 (-) |
0.146 |
4.7 X |
| AMZN (C) |
10580 |
245 (-) |
0.124 |
7.9 X |
| MSFT (C) |
10557 |
515 (-) |
0.188 |
12.0 X |
