Stocks Hit by Momentum Unwind as Tesla Falls Late: Markets Wrap

Volatility resurfaced on Wall Street in a session that saw stocks falling alongside gold and cryptocurrencies. News reports saying the Trump administration is weighing restrictions on software exports to China added to recent anxiety around trade.

Following a torrid rally, calls for a breather have emerged. The Nasdaq 100 lost 1% after a tepid outlook from Texas Instruments Inc. and a 10% slump in Netflix Inc. In late hours, Tesla Inc. slid as earnings missed estimates despite a sales surge. Traders also kept an eye on geopolitics, with Treasury Secretary Scott Bessentsaying the US will ratchet up ...