{"id":188305,"date":"2020-09-08T18:30:03","date_gmt":"2020-09-08T22:30:03","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=188305"},"modified":"2020-09-09T12:06:48","modified_gmt":"2020-09-09T16:06:48","slug":"tesla-and-tech-extend-sell-off","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/tesla-and-tech-extend-sell-off\/","title":{"rendered":"Tesla and tech extend sell-off"},"content":{"rendered":"<hr \/>\n<table cellpadding=\"10\" align=\"center\">\n<tbody style=\"padding: 10px; font-family: Helvetica, Arial;\">\n<tr align=\"center\">\n<td align=\"center\"><center>This week, you missed Past Top Picks comments by <a href=\"https:\/\/stockchase.com\/expert\/view\/42\/Michael-Sprung\">Michael Sprung<\/a>\u00a0including <a href=\"https:\/\/stockchase.com\/company\/view\/286\/CNQ-T\">Canadian Natural Rsrcs<\/a> (<strong>A Top Pick Aug 22\/18, Down 27%<\/strong>) <strong><a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-text\">Get Premium<\/a> to receive all past top picks opinions a few hours before market open.<\/strong><br \/>\n<a href=\"https:\/\/stockchase.com\/premium\/?utm_e-top-promo-top-picks-image\"><img decoding=\"async\" class=\"alignnone size-full wp-image-123205\" src=\"https:\/\/stockchase.com\/discover\/wp-content\/uploads\/2019\/11\/premium-button.png\" alt=\"Get Premium\" width=\"289\" height=\"48\" \/><\/a><\/center><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<hr \/>\n<p>Markets resumed the tech sell-off after Labour Day with overseas markets and North American futures giving clear warning before the Tuesday open. Hardest hit was high-flyer <a href=\"https:\/\/stockchase.com\/company\/view\/4017\/TSLA-Q\">Tesla<\/a>.\u00a0 <a href=\"https:\/\/www.cnbc.com\/2020\/09\/08\/tesla-shares-slump-10percent-in-premarket-trading-after-sp-500-snub.html Nasdaq sell-off continues\" target=\"_blank\" rel=\"noopener\">Tesla<\/a> wasn&#8217;t added to the S&amp;P 500 as widely expected, and shares plummeted 21% on Tuesday, its worst one-day drop ever. The Nasdaq continued to plunge from last week, closing -4.11% as every big tech name suffered large losses: <a href=\"https:\/\/stockchase.com\/company\/view\/4\/AAPL-Q\">Apple<\/a> -6.73%, <a href=\"https:\/\/stockchase.com\/company\/view\/67\/AMZN-Q\">Amazon<\/a> -4.39% and <a href=\"https:\/\/stockchase.com\/company\/view\/820\/MSFT-Q\">Microsoft<\/a> -5.41%, for example.<\/p>\n<p>All 11 sectors of the S&amp;P closed down with the S&amp;P finishing -2.78%. The Dow ended -2.25%. Not only tech, but financials lost value on Tuesday. <a href=\"https:\/\/stockchase.com\/company\/view\/680\/JPM-N\">JP Morgan<\/a> slid 3.48% and <a href=\"https:\/\/stockchase.com\/company\/view\/544\/GS-N\">Goldman Sachs<\/a> declined 4%. Energy also sold off with <a href=\"https:\/\/stockchase.com\/company\/view\/337\/CVX-N\">Chevron<\/a> closing -3.61% along with a the price of WTI at -7.24%. WCS sold off nearly 9%.<\/p>\n<p>Canadian stocks suffered less damage, since tech has a smaller presence on the TSX. The TSX closed -0.73%, weighed down by energy (-7.59%). <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify<\/a> sold off 4.37% <a href=\"https:\/\/stockchase.com\/company\/view\/447\/ENGH-T\">Enghouse Systems<\/a> fell 3.23% and <a href=\"https:\/\/stockchase.com\/company\/view\/6014\/LSPD-T\">Lightspeed<\/a> shed 2.3%. The day&#8217;s big winner was <a href=\"https:\/\/stockchase.com\/company\/view\/5997\/VFF-T\">Village Farms International<\/a>, soaring 10.38% after announcing a major <a href=\"https:\/\/finance.yahoo.com\/news\/village-farms-international-acquire-pure-175500656.html\" target=\"_blank\" rel=\"noopener\">cannabis<\/a> acquisition. Meanwhile, <a href=\"https:\/\/stockchase.com\/company\/view\/2743\/AXUN-T\">Artis REIT<\/a> jumped 4% on news it will spin off its <a href=\"https:\/\/finance.yahoo.com\/news\/artis-real-estate-investment-trust-110000486.html\" target=\"_blank\" rel=\"noopener\">Canadian<\/a> retail properties. Gold was essentially flat for the day.<\/p>\n<p>&#x1f697; <a href=\"https:\/\/stockchase.com\/company\/view\/4017\/TSLA-Q\">Tesla Motors Inc<\/a> -21%<br \/>\n&#x1f34e; <a href=\"https:\/\/stockchase.com\/company\/view\/4\/AAPL-Q\">Apple<\/a> -6.73%<br \/>\n&#x1f4e6; <a href=\"https:\/\/stockchase.com\/company\/view\/67\/AMZN-Q\">Amazon.com<\/a> -4.39%<br \/>\n&#x24c2; <a href=\"https:\/\/stockchase.com\/company\/view\/820\/MSFT-Q\">Microsoft<\/a> -5.41%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/680\/JPM-N\">JP Morgan Chase &amp; Co<\/a> -3.48%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/544\/GS-N\">Goldman Sachs<\/a> -4%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/company\/view\/337\/CVX-N\">Chevron Texaco<\/a> -3.61%<br \/>\n&#x1f6cd; <a href=\"https:\/\/stockchase.com\/company\/view\/5093\/SHOP-T\">Shopify Inc.<\/a> -4.37%<br \/>\n&#x1f4bf; <a href=\"https:\/\/stockchase.com\/company\/view\/447\/ENGH-T\">Enghouse Systems<\/a> -3.23%<br \/>\n&#x1f4be; <a href=\"https:\/\/stockchase.com\/company\/view\/6014\/LSPD-T\">Lightspeed POS<\/a> -2.3%<br \/>\n&#x1f33f; <a href=\"https:\/\/stockchase.com\/company\/view\/5997\/VFF-T\">Village Farms International, Inc.<\/a> +10.38%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/company\/view\/2743\/AXUN-T\">Artis Real Estate Investment Trust<\/a> +4%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This week, you missed Past Top Picks comments by Michael Sprung\u00a0including Canadian Natural Rsrcs (A Top Pick Aug 22\/18, Down 27%) Get Premium to receive all past top picks opinions a few hours before market open. Markets resumed the tech [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-188305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/188305","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=188305"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/188305\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=188305"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=188305"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=188305"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}