Robinhood Markets is cutting about 7% of its full-time staff, the online brokerage's third round of layoffs in just over a year as the company adjusts to a slowdown in customer trading activity.

About 150 employees are being laid off, according to an internal company message seen by The Wall Street Journal.

Tesla's stock suffers a 'correction' as Cathie Wood's ETFs have sold more than 500,000 shares in June

Shares of Tesla Inc. dropped again Monday, enough to enter "correction" territory, in the wake of more sales by Cathie Wood's ARK Investment exchange-traded funds and analyst downgrades.

The stock TSLA sank 4.2% in afternoon trading Monday toward the lowest close in more than two weeks. The electric vehicle maker's shares have fallen 10.4% since they closed at a nine-month high of $274.45 on June 20.

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Expected Major Events for Tuesday

06:00/SWE: May PPI

06:00/SWE: May Foreign trade

08:00/ITA: Jun Consumer Confidence Survey

08:00/ITA: Jun Business Confidence Survey

08:30/UK: May Capital issuance statistics

16:59/HUN: 1Q Balance of Payments

23:01/UK: May Zoopla House Price Index

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This article is a text version of a Wall Street Journal newsletter published earlier today.

(END) Dow Jones Newswires

06-27-23 0015ET