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Tesla fell nearly 18% this week, recording its biggest single-week drop since 2022; SpaceX fell more than 7% this week
BlockBeats message: July 25, according to market data from BIT (bit.com). On Friday, the three major U.S. stock indexes closed with mixed results: the Dow Jones Industrial Average rose 0.46%, the S&P 500 rose 0.05%, and the Nasdaq Composite fell 0.64%. The Philadelphia Semiconductor Index plunged 4.25%.
As for individual stocks, SanDisk fell by more than 10%, Coherent fell by more than 9%, SK hynix fell by more than 8%, and Kioxia ADR fell by more than 14%. In addition, chip stocks such as Marvell Technology, Intel, Western Digital, and Micron Technology all saw notable declines.
Tesla fell by more than 2%. For the week, it is down nearly 18%, its largest weekly drop since 2022. SpaceX’s share price continued to set new lows, down more than 7% for the week.