U.S. Stocks Open Lower on Friday; Tesla and Nvidia Drop 2%

Tiger Newspress

Nov 07

U.S. stocks moved lower Friday after a pullback in the market’s biggest technology names led to a losing session for U.S. equities — and put the major averages on pace for a losing week.

Tesla fell 2% although shareholders approved the largest corporate pay package in history for Musk, signaling confidence in his vision to morph the EV maker into an AI and robotics juggernaut.

The White House has informed other federal agencies that it will not permit Nvidia to sell its latest scaled-down AI chips to China, The Information reported on Thursday, citing three people familiar with the matter. Nvidia shares dropped 2%.

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