As the world has been welcoming the new year 2023, the US Stock Market is expecting some positive moves, Although the last week of the year is considered a profit-making business duration for retail investors but since the last couple of days until Tuesday evenings, there hasn’t been in positive upliftment in the market.
Investors who have undergone some major losses in the year 2022 have not been able to recover any major return on investment from US Stock Market.
Dow Jones Industrial Average which has been tied with the futures can add up to 11 points and this shows the trading week off Lat movement along with that the S&P 500 and Nasdaq 100 were also showcasing similar movement into the future markets where both of these markets were approximately moving in a flat momentum.
The Dow Jones has been able to add up to 37.63 points which equals approximately point 0.11% increase and it closed at 33,241.56. Along with that, the S&P 500 index was also able to move by 0.40% in the positive direction in the US Stock Market. On this positive moment of the market, the US market showcased some positive movements in the trading positions, and Tuesday which is the start of the holiday season begins at the end of Tuesday
The Nasdaq market was able to dilute approximately 1.4% along with an 11% drop in the price of Tesla stocks. As it was reported by The Wall Street Journal that this electric car major company would be continuing the pause of its production at the Tesla Motors Shanghai facility. It is seen that these spores in production will be a week-long by Tesla Motors. with this price fall Tuesday has been considered the 7th straight day of a loss for tesla stocks.
Tesla stock dropped by 69% this year
The Fall of Tesla stocks comes with momentum when the CEO of Tesla Elon Musk has been in a chaotic situation and managing the newly purchased Twitter company. Overall this has been a tough year for the electric car maker company Tesla, as the prices of Tesla share has been down by 69% this year.
Just one year ago in 2021, Elon Musk was considered a hero who has been able to introduce an electric car for the first time in the world, but in the year 2022 at Tesla shares are considered as a panic investment and partially selling option for all the investors in US Stock Market.
As the year is about to end in three days for 2022, the stock market is considered to be on its worst track years since 2008. This can be evaluated by the fact that all three major indexes have been performing in a negative direction this year. The Nasdaq has been able to perform the worst of these indexes as Nasdaq depicted 33.8% losses followed by 8.5% losses at Dow and 19.7% losses in S&P 500 index.