Top Stock Movers Now: Nvidia, Royal Caribbean, Mosaic, and More
U.S. markets slid midday as concerns over tech stocks, the Federal Reserve meeting, and renewed geopolitical tensions in the Middle East rattled investors. The Nasdaq dropped nearly 2%, while the S&P 500 and Dow Jones Industrial Average also fell.Tesla (TSLA) shares declined after RBC analysts cut their price target, citing weak electric vehicle (EV) deliveries in China and Europe. Adding to the pressure, Chinese automaker BYD unveiled an ultra-fast charger, increasing competition in the EV space.
Travel stocks also suffered, with Royal Caribbean (RCL), United Airlines (UAL), and other airline and cruise operators tumbling on fears that escalating Middle East tensions and economic uncertainty could hurt demand.
Nvidia (NVDA) shares slipped ahead of CEO Jensen Huang’s highly anticipated remarks at the company’s artificial intelligence (AI) conference.
Meanwhile, fertilizer producer Mosaic (MOS) saw its stock rise, as the company pointed to favorable macroeconomic trends supporting its business.
Coal miner Peabody Energy (BTU) advanced after former President Donald Trump endorsed "clean coal," boosting investor confidence in the industry.
In the EV sector, Lucid Group (LCID) shares surged following an upgrade from Morgan Stanley, which highlighted the company’s AI-driven strategy as a potential game-changer.
Elsewhere, oil prices and Treasury yields remained steady, while gold hit a record high. The U.S. dollar strengthened against the yen and held firm against the euro and pound. Most major cryptocurrencies traded lower.
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