• Fri. Apr 19th, 2024

Apple, Amazon, Tesla stocks dive into the red after inflation data

Boeing stock jumps nearly 8% after maker's commercial-jet deliveries rise more than 50% in Q2


Shares of technology behemoths, and electric vehicle maker Tesla Inc. , pulled sharp U-turns in premarket trading to dive into negative territory after data showing that inflation rose more than expected in June. Of the top-5 companies by market capitalization, shares of Apple Inc. fell 1.9%, Microsoft Corp. dropped 1.8%, Alphabet Inc. slid 2.0%, Amazon.com Inc. shed 2.0% and Tesla sank 3.3%. The consumer price index (CPI) rose 1.3% in June, compared with expectations of a 1.1% advance, as year-over-year inflation increased to 9.1% to the highest rate since November 1981. In addition, inflation-adjusted wages fell…


Image and article originally from www.marketwatch.com. Read the original article here.