Stocks end lower as tech swoon persists, Tesla in historic drop

Each of the 11 major S&P sectors were lower, led by declines in technology and energy. Reports on Friday that SoftBank made significant option purchases during the run-up in U.S. stocks added to investor nervousness.

The Dow Jones Industrial Average fell 632.42 points, or 2.25%, to 27,500.89, the S&P 500 lost 95.12 points, or 2.78%, to 3,331.84 and the Nasdaq Composite dropped 465.44 points, or 4.11%, to 10,847.69.Media reports of SoftBank’s option purchases also reminded investors that market makers might have billions of dollars’ worth of long positions as hedges against options trades.

JPMorgan Chase & Co fell 3.48%, after a report it was probing employees who were allegedly involved in the misuse of funds intended for COVID-19 relief. The wider banks index lost 3.44%, also tracking Treasury yields. General Motors Co jumped 7.93% after it acquired an 11% stake worth $2 billion in U.S. electric-truck maker Nikola Corp. The truck maker’s shares surged 40.79%.

BILLIONAIRE-FRIENDS CAN'T SUSTAIN THE HELP THEY EXTENDED, BECAUSE THE ECONOMY IS NOT ABOUT THEM. THEIR BILLIONS CAN'T HIDE THE FACT THAT MILLIONS LOST THEIR JOBS, BUSINESSES ARE LOSING MONEY AND A LOT HAVE CLOSED DOWN. ADDRESS THE VIRUS, THEN THE ECONOMY BECOMES HEALTHY AGAIN.

Expected since May. Don’t you remember?

Just the beginning. get ready for a bumpy ride folks.

The stock market goes down every time the FAKE NEWS MEDIA report Joe Biden will win the Presidential election. The stock market will crash if Joe Biden wins. Parents will be moving into their children's homes.

BREAKING: President Trump diagnosed with chronic 'Diarrhea of the mouth'. Doctors say it's due to having shit for brains!

Congress won't stimulate the economy so it's going down, confidence is going down and Congress refuses to act

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