[Breaking] Tesla Falls 16%... Nasdaq Down 3%

Tesla's Failure to Join S&P 500 Triggers Sharp Drop
Apple Also Falls 5%

[Asia Economy New York=Correspondent Baek Jong-min] On the 8th (local time), the Nasdaq market plunged again in the New York stock market that opened. The plunge of electric vehicle company Tesla is prominent.

Elon Musk, CEO of Tesla [Photo by Reuters]

On this day, the Nasdaq index started trading at 10,905.75, down 3.6% from the previous day. In the last trading session of last week, it showed a 5% decline for two consecutive days during the session but narrowed the drop to a 1.2% decline, yet it showed a downward trend again. The Dow Jones index and the S&P 500 index also showed declines of 1.3% and 1.9%, respectively.

The Nasdaq decline is led by Tesla and Apple. Tesla fell by as much as 16% at the opening. Tesla had also plunged 15% in pre-market trading. Tesla showed an 8% plunge during the last trading session of last week but rebounded afterward, escaping the sharp decline in four days.

CNBC broadcast interpreted Tesla's sharp stock price drop on this day as an effect of the failure to be included in the S&P 500 index announced after the close of trading on the 4th.

Apple's stock price also fell 5% in pre-market trading and is trading down 5.45% immediately after the opening.