Mounting pressure from "higher for longer" interest rates means there's likely more bad news ahead for the tech-heavy Nasdaq Composite . The index slid 2.4% on Wednesday, posting its worst day since February. The Nasdaq is now down more than 10% from its July 19 high this year, meaning it's officially entered correction territory. Alphabet , which slid 9.5% Wednesday on the back of disappointing cloud revenue, contributed to the index's decline.
Pro recently screened for a list of these stocks, shown here: The list of names includes Tesla, which is down 29% from its 52-week high in July. In all, 21 of the 46 analysts covering the stock maintain a rating of hold, calling for an average upside of 10%, per LSEG. Analysts across Wall Street reduced their price targets both before and after the electric vehicle maker's disappointing third-quarter results.
's Michael Bloom contributed reporting.
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: WSJ - 🏆 98. / 63 Read more »
Source: WSJ - 🏆 98. / 63 Read more »
Source: WSJ - 🏆 98. / 63 Read more »