Shares of technology companies rose as the sector continued to rebound from a recent correction. The Nasdaq Composite fell by more than 10% in early September, but it rose by more than 1.5% Tuesday.
"Given the move those stocks have had -- especially in the 'Fab Five' mega cap tech stocks, seeing a little bit of volatility...is probably not that unexpected," said Eric Marshall, president of Dallas mutual-fund firm Hodges Capital.
Tesla shares fell sharply after Chief Executive Elon Musk tamped down expectations about the electric-car maker's "Battery Day" showcase of advances in battery technology. Mr. Musk said the technology would not be available for mass production in the near term.
Shares of Tesla rival Nikola recouped some of its recent losses after Chief Financial Officer Kim Brady insisted, at a virtual conference, that "nothing has changed," in the wake of short-seller claims that the company had misled investors and the abrupt resignation of its founder, Trevor Milton.
Amazon.com is limiting the ability of some competitors to promote their rival smart speakers, video doorbells and other devices on its dominant e-commerce platform, The Wall Street Journal reported.
Even as eleventh hour negotiations on a putative acquisition by Oracle and Walmart of an interest in video-sharing service TikTok continue, the Chinese government has sped up development of a blacklist that could be used to punish American technology firms, but officials say leaders are hesitating to pull the trigger, with some arguing a decision on the list should wait until after the U.S. election.
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