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The Nasdaq is the first of the three closely watched U.S. stock barometers to fall into bear territory, with the S&P 500 .SPX and the Dow Jones Industrial Average .DJI down about 15 percent from their respective highs. “The Nasdaq is like Icarus. It’s flown too close to the sun, in that it’s had a bigger run-up,” said Kristina Hooper, chief global market strategist at Invesco in New York. “It’s gone up significantly more than the other major indices and that has a lot to do with why it’s fallen the most.”.

Other segments of the market had already moved into bear territory, including the Russell 2000 small-cap benchmark and the Dow Jones Transport Average .DJT, The Nasdaq, however, stands out, “It’s always the raciest and spiciest of the indices because it has all of the growth university of maryland cufflinks names in it,” said Michael Antonelli, managing director of institutional sales trading at Robert W, Baird in Milwaukee, “When growth expectations change, like they have radically over the past few months, the first place they’re going to go is to the Nasdaq and absolutely slam it.”..

The latest bout of selling, which on Thursday dragged the Nasdaq to its lowest since September 2017, comes a day after the Federal Reserve raised interest rates for a fourth time this year, as the U.S. central bank continues to unwind the low interest rate policy that supported stocks for nearly a decade. Investors are also grappling with concerns that the trade tensions between the United States and China are undermining the economy, and an expected steep slowdown in U.S. profit growth next year.

At its lowest point on Thursday, the Nasdaq fell about 2.9 percent, resulting in a 20.5 university of maryland cufflinks percent decline from its Aug, 29 record closing high, The index ended down 1.6 percent on the day, 19.5 percent off its closing high, The Nasdaq’s slump has been driven by a steep fall in shares of many large tech and internet companies that have led the stock market during its long bull run, Apple Inc (AAPL.O) shares, for example, have fallen nearly 30 percent since the start of November, following the iPhone maker’s disappointing sales forecast for the holiday quarter..

DETROIT (Reuters) - Tesla Inc (TSLA.O) Chief Executive Elon Musk raised hopes again on Thursday that he could ride to the rescue of a threatened General Motors Co (GM.N) car plant at the center of a political storm about auto jobs, and GM replied, saying the Ohio factory’s fate depends on union talks next year. Musk suggested in a Twitter exchange with outgoing Ohio Governor John Kasich that he would consider acquiring GM’s Lordstown small-car factory in Warren, Ohio, which GM has signaled it could close next year. The decision has prompted bipartisan anger in Washington, led by U.S. President Donald Trump.

Musk had dropped a hint in an interview with the CBS TV program “60 Minutes” university of maryland cufflinks on Dec, 9 that he might be interested in buying one of the three North American vehicle assembly plans GM has said have no work allocated after next year, On Monday, Kasich tweeted at Musk, “Hey @ElonMusk, Call me, There are no better workers than Ohio workers, And Lordstown is ready for you.” Musk responded on Thursday, “Thanks, will consider next year.”, GM, however, owns the factory, and in a statement following the Musk tweet, GM spokesman Patrick Morrissey said: “GM has said the plant is unallocated and the next steps are a matter of UAW-GM negotiations.”..

GM and the United Auto Workers will negotiate new master contracts for the automaker’s U.S. operations next year, with a resolution likely in the fall. The Lordstown assembly plant, which builds GM’s slow-selling Chevrolet Cruze compact sedan, is one of five plants in North America GM has marked for possible closure. Trump has put pressure on GM to find a new vehicle for the Lordstown plant, threatening to kill a $7,500 federal tax credit program for electric vehicles that is beneficial to GM. That program has also benefited Tesla, and both automakers have lobbied Congress for months to lift the cap on electric vehicles eligible for the full $7,500 tax credit from the present level of 200,000 vehicles.

Analysts on Thursday tried to sort out the pros and cons of a deal that has not happened, For Trump, the stakes are clear, Ohio is a battleground state the president won in 2016 and needs to win again to be re-elected in 2020, Trump said during a July 2017 visit to nearby Youngstown that jobs were coming back to the region, “Don’t move,” he told local residents, “Don’t sell your house.”, For university of maryland cufflinks GM, selling Lordstown to Tesla could help “reduce costs, improve sentiment and de-escalate political pressure,” Morgan Stanley analyst Adam Jonas said in a research note on Thursday..

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