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Industryweek 7782 Nasdaq Drops Tesla Netflix Stumble
Industryweek 7782 Nasdaq Drops Tesla Netflix Stumble
Industryweek 7782 Nasdaq Drops Tesla Netflix Stumble
Industryweek 7782 Nasdaq Drops Tesla Netflix Stumble
Industryweek 7782 Nasdaq Drops Tesla Netflix Stumble

Nasdaq Drops 0.6% As Tesla, Netflix Stumble

Nov. 19, 2014
High-flying tech companies Netflix and Tesla Motors stumbled Wednesday, pulling the Nasdaq 0.6% lower in a muted day for US equities.

NEW YORK — High-flying tech companies Netflix and Tesla Motors (IW 500/384) stumbled Wednesday, pulling the Nasdaq 0.6% lower in a muted day for US equities.

The tech-rich Nasdaq dropped  26.73 points (0.57%) to 4,675.71.

The Dow Jones Industrial Average slipped 2.09 (0.01%) to 17,685.73, while the broad-based S&P 500 lost 3.08 (0.15%) at 2,048.72.

Tesla shares fell 3.9% after Morgan Stanley trimmed its profit forecast for the electric-car manufacturer, while Netflix dropped 4.7% after it pulled the plug on a Bill Cosby program due to allegations of rape and sexual abuse against the comedian.

Analysts said hot Nasdaq stocks were also affected by profit-taking after big gains in recent weeks.

Copyright Agence France-Presse, 2014

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