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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessTesla Dip Puts Equities on Backfoot
- Wall Street traded lower Tuesday, with headline indices dipping around 0.5%, led lower by a sharp pullback in Tesla shares, which dropped as much as 10%. The automaker slipped sharply within 10 minutes of the cash open, the largest intraday decline in 8 months.
- Weakness came alongside large selling in Tesla share blocks at the market open, giving way to large S&P emini futures selling volumes.
- Tesla's drop prompted automakers and consumer discretionary to lead declines in the S&P 500, with financials and tech not far behind. The moves follow the weekend's news that Tesla CEO Musk said he'd sell a 10% stake in the company after a Twitter poll on the subject.
- European markets gave up an early lead, with the UK's FTSE-100 leading declines, slipping 0.4% into the close.
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.