Top Stock Movers Now: CarMax, Tesla, Nvidia, and More
KEY TAKEAWAYS
Major U.S. equities indexes tumbled midday Thursday, giving up some of Wednesday’s gains after President Donald Trump said he would
pause some tariffs for 90 days
. The Dow fell 5%, while the S&P 500 dropped 6%, and the Nasdaq plunged 7%.
CarMax (
KMX
) shares fell sharply, leading losses on the S&P 500, after the used car retailer’s quarterly earnings and sales came in
below
analysts’ expectations.
Tesla (
TSLA
) shares, which
soared
Wednesday, fell as UBS and Mizuho lowered their price targets for the EV maker’s stock on worries about the impact of tariffs on the auto sector.
Nvidia (
NVDA
), Broadcom (
AVGO
), Micron Technology (
MU
), Lam Research (
LRCX
),Ā Applied Materials (
AMAT
), and other semiconductor stocks tumbled, dragging the PHLX Semiconductor Index (
SOX
) down around 10%.
Shares of gold miners Barrick Gold (
GOLD
) and Newmont (
NEM
) gained asĀ investors sought out safe haven assets, boosting the price of the precious metal.
Crude oil futures fell and the yield on the 10-year Treasury note edged lower. The U.S. dollar lost ground against the euro, yen and pound. Prices for major cryptocurrencies sank.
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