NASDAQ registered one of its worst daily performances in months on July 20 as the index got dragged down by the crashing stocks of Tesla and Netflix.
On Thursday, NASDAQ declined by 295 points, or 2.05 percent, which is the biggest daily percentage decline since Feb. 21, when the index fell by 2.5 percent. The plunge was largely driven by two stocks: Tesla and Netflix. While shares of Netflix dipped by 8.4 percent, to $437.42, Tesla shares declined by around 9.7 percent, to $269.90. Investor confidence in both these companies was shaken due to concerns about earnings and valuation metrics.
