The S&P 500 and Nasdaq dropped due to Tesla’s and Netflix’s quarterly results. Tesla’s shares experienced its largest one-day percentage fall since April after reporting a drop in its second-quarter gross margins, whereas Netflix tumbled due to a short-fall in its quarterly revenue. However, the Dow went up for the ninth-straight day thanks to Johnson & Johnson’s gains after a strong annual forecast.
US stocks: Tesla, Netflix pull Nasdaq and S&P lower, Dow ends higher
The S&P 500 and Nasdaq dropped due to Tesla’s and Netflix’s quarterly results. Tesla’s shares experienced its largest one-day percentage fall since April after reporting a drop in its second-quarter gross margins, whereas Netflix tumbled due to a short-fall in its quarterly revenue. However, the Dow went up for the ninth-straight day thanks to Johnson & Johnson’s gains after a strong annual forecast.