Nasdaq Down 400 Points; Tesla Shares Fall After Q3 Results

by | Oct 22, 2026 | General

U.S. stocks traded lower this morning, with the Nasdaq Composite falling around 400 points on Thursday.

Following the market opening Thursday, the Dow traded down 0.25% to 52,721.79 while the NASDAQ dipped 1.54% to 26,291.50. The S&P 500 also fell, dropping, 0.82% to 7,693.36.

Leading and Lagging Sectors

Consumer staples shares jumped by 1.4% on Thursday.

In trading on Thursday, communication services stocks fell by 2.2%.

Top Headline

Shares of Tesla, Inc. (NASDAQ:TSLA) fell around 2% on Thursday after the company reported results for the third quarter.

Tesla reported third-quarter revenue of $28.05 billion, flat from the prior year’s third quarter. The revenue total beat a Street consensus estimate of $27.88 billion, according to data from Benzinga Pro. Tesla reported adjusted earnings of 48 cents per share, beating a Street consensus estimate of 43 cents per share.

Equities Trading UP
           

  • SHF Holdings, Inc. (NASDAQ:SHFS) shares shot up 61% to $0.2485 after the company raised its first-quarter sales guidance above estimates.
  • Shares of STAK Inc. (NASDAQ:STAK) got a boost, surging 46% to $1.4600 after the company reported a year-over-year increase in its FY26 financial results.
  • Netcapital Inc. (NASDAQ:NCPL) shares were also up, gaining 36% to $2.1372.

Equities Trading DOWN

  • Avalo Therapeutics, Inc (NASDAQ:AVTX) shares dipped 40% to $7.37.
  • Shares of Pomdoctor Limited (NASDAQ:POM) were down 28% to $2.15.
  • NVE Corporation (NASDAQ:NVEC) was down, falling 30% to $72.63 after the company reported a year-over-year decrease in second-quarter financial results.

Commodities 

In commodity news, oil traded up 2% to $99.13 while gold traded down 1.9% at $4,071.00.

Silver traded down 4.4% to $55.165 on Thursday, while copper fell 2.2% to $6.4335.

Euro zone

European shares were mostly lower today. The eurozone’s STOXX 600 fell 0.5%, while Spain’s IBEX 35 Index fell 1.4%, London’s FTSE 100 rose 0.1%, Germany’s DAX fell 0.4%, while France’s CAC 40 dipped 1%.

Asia Pacific Markets

Asian markets closed lower on Thursday, with Japan’s Nikkei 225 dipping 2.65%, Hong Kong’s Hang Seng index falling 3.03%, China’s SSE Composite Index dipping 1.48% and India’s BSE Sensex falling 0.62%.

Economics

U.S. initial jobless claims fell by 6,000 to 194,000 in the week ended Oct. 17, compared to market estimates of 200,000 and down from a revised reading of 200,000 in the previous week.

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