Technology Companies Drag Stock Markets Down Again
Shares of Tesla, a maker of electric-powered vehicles, also were in free fall, plunging 8 percent plunge after the National
Transportation Safety Board said it was investigating a fatal crash last week involving a Tesla vehicle in California.
The sell-off was ignited when the chip maker Nvidia said it was suspending tests of its self-driving car
technology after an autonomous Uber vehicle struck and killed a pedestrian in Tempe, Ariz., last week.
The Nasdaq composite, laden with technology stocks, sank 2.9 percent after a flurry of bad
news about specific companies metastasized into a broad retreat from technology stocks.
Optimistic investors piled into the shares, hoping to grab a piece of the profits from industries
such as social media, autonomous driving, video streaming and artificial intelligence.