U.S. stocks in the morning: Nifty plunge with collapse of the streaming media sector, Tesla Q1 revenue hit a single quarter high again

By    21 Apr,2022

On Wednesday, Nifty's 35% plunge dragged tech and streaming stocks down en masse, and the tech-dominated Nasdaq continued to come under pressure, falling more than 1%. The Federal Reserve's Brown Book released Wednesday showed that the U.S. economy continued to grow moderately from February to April, but rising prices and geopolitical developments created uncertainty and cast a shadow over future growth prospects.


After the bell on Wednesday, electric car giant Tesla reported better-than-expected Q1 earnings, with revenue for the quarter hitting another quarterly high at $18.756 billion, up 81% year-over-year, and GAAP net income up 658% year-over-year to $3.311 billion.

The Dow Jones Industrial Average was up 0.71% at 35,160.79 points.

The Nasdaq Composite Index was down 1.22% at 13,453.07 points.

The U.S. Standard & Poor's 500 Index was down 0.06 percent at 4,459.45 points.