Wall Street slips off record highs, Tesla drops after fatal crash

By Herbert Lash

INTERNATIONAL – US stocks closed lower on Monday, slipping from last week’s record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla shares fell after a fatal car crash.

The electric-car maker slid 3.4 percent after a Tesla vehicle believed to be operating without anyone in the driver’s seat crashed into a tree on Saturday north of Houston, killing two occupants.

The stock was the biggest drag on the S&P 500 and Nasdaq Composite Index. An 8.4 percent drop over the weekend in bitcoin, in which Tesla has an investment, also weighed on its share price.

The S&P 500 was mostly lower, with Microsoft, Amazon.com and Nvidia also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season.

Source: iol.co.za