U.S. stocks opened lower Thursday, losing ground after spending much of the week in a holding pattern. Equities fell as shares of electric vehicle maker Tesla Inc.
weighed on the Nasdaq and S&P 500 after CEO Elon Musk suggested he was prepared to boost market share at the expense of profit margins. Tesla shares fell 8% at the openint bell. The Dow Jones Industrial Average DJIA, -0.50%, was down 159 points, or 0.5%. The S&P 500 SPX, -0.67% dropped 0.7%, while the Nasdaq Composite COMP, -0.76% was down 0.9%.
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