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
