Nasdaq Down Over 400 Points; Tesla Shares Tumbles After Q2 Results

by | Jul 23, 2026 | General

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

Following the market opening Thursday, the Dow traded down 0.95% to 51,720.30 while the NASDAQ declined 1.58% to 25,286.26. The S&P 500 also fell, dropping, 0.86% to 7,434.23.

Leading and Lagging Sectors

Industrials shares jumped by 2.2% on Thursday.

In trading on Thursday, communication services stocks fell by 4.4%.

Top Headline

Tesla Inc. (NASDAQ:TSLA) shares dipped more than 12% on Thursday after the company reported mixed second-quarter financial results.

Tesla reported second-quarter revenue of $28.24 billion. The total beat a Street consensus estimate of $25.71 billion, according to data from Benzinga Pro. Second-quarter earnings of 33 cents per share missed a Street consensus estimate of 50 cents per share.

Equities Trading UP
           

  • Eshallgo Inc (NASDAQ:EHGO) shares shot up 77% to $3.12.
  • Shares of Callan JMB Inc (NASDAQ:CJMB) got a boost, surging 70% to $2.85.
  • Lucas GC Ltd (NASDAQ:LGCL) shares were also up, gaining 50% to $1.43.

Equities Trading DOWN

  • China SXT Pharmaceuticals Inc (NASDAQ:SXTC) shares dropped 80% to $0.40 after the company announced a $9 million registered direct offering.
  • Shares of Leslie’s Inc (NASDAQ:LESL) were down 46% to $1.31 following reports suggesting the company is considering Chapter 11 Bankruptcy.
  • C3is Inc (NASDAQ:CISS) was down, falling 26% to $1.20.

Commodities

In commodity news, oil traded up 5.5% to $91.64 while gold traded down 2.3% at $4,056.00.

Silver traded down 3.5% to $58.170 on Thursday, while copper fell 1.5% to $6.3960.

Euro zone

European shares were lower today. The eurozone’s STOXX 600 fell 1.1%, while Spain’s IBEX 35 Index dipped 1.3% London’s FTSE 100 fell 0.7%, Germany’s DAX declined 1.2%, while France’s CAC 40 tumbled 1.6%.

Asia Pacific Markets

Asian markets closed mixed on Thursday, with Japan’s Nikkei 225 gaining 0.46%, Hong Kong’s Hang Seng index surging 1.28%, China’s Shanghai Composite rising 0.25% and India’s BSE Sensex falling 0.47%.

Economics

  • U.S. initial jobless claims US fell by 22,000 to 187,000 in the week ending July 18, compared to market estimates of 212,000.
  • The Chicago Fed National Activity Index climbed to -0.02 in June from -0.19 in the previous month.

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