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Stocks Decline as Tesla Drops, Rate Cut Timing Eyed

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U.S. stocks fell Tuesday as investors weighed chances that the Federal Reserve could delay cutting interest rates, while Tesla shares dropped after the electric car maker posted fewer quarterly deliveries for the first time in nearly four years.

Tesla was among the big`est drags on the S&P 500 and Nasdaq.Recent solid U.S. economic reports have raised doubts about whether the Fed could deliver the three rate cuts outlined in its latest forecast.

According to preliminary data, the S&P 500 lost 37.73 points, or 0.72%, to end at 5,206.04 points, while the Nasdaq Composite lost 156.38 points, or 0.95%, to 16,240.45. The Dow Jones Industrial Average fell 387.81 points, or 1.00%, to 39,171.55.

 

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