Dow Jones jumps 420 points; Tesla shares drop

US Stock Market LIVE Updates: US stocks are drifting on Tuesday (July 10) as Wall Street’s momentum slows after setting record highs in each of the last two days. The S&P 500 was 0.3% lower in early trading and on track for its first loss in four days. The Dow Jones Industrial Average was edging down by 21 points, or less than 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5% lower. US Stock Market LIVE Updates: US stocks are drifting on Tuesday (July 10) as Wall Street’s momentum slows after setting record highs in each of the last two days. The S&P 500 was 0.3% lower in early trading and on track for its first loss in four days. The Dow Jones Industrial Average was edging down by 21 points, or less than 0.1%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.5% lower. Tesla helped pull the market lower as the relationship between its CEO, Elon Musk, and President Donald Trump soured even further. Once allies, the two have clashed recently, and Trump suggested there’s potentially “BIG MONEY TO BE SAVED” by scrutinising subsidies, contracts or other government spending going to Musk’s companies. Tesla fell 6.9% and was the heaviest weight on the S&P 500. It had already dropped a little more than 21% for the year so far, coming into the day, in part because of Musk’s and Trump’s feud.Watch this space for all the live updates.

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