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Tesla, Qualcomm Plummet, Lead QQQ Sharply Lower Monday

The Nasdaq and companies in the broader technology sector were trading lower Monday amid profit-taking and overall weakness in the sector. Here’s how the major U.S. indices fared on the day:

05/10/2021 17:00

The Nasdaq and companies in the broader technology sector were trading lower Monday amid profit-taking and overall weakness in the sector. Here’s how the major U.S. indices fared on the day:

  • The Invesco QQQ Trust Series 1 (NASDAQ:QQQ) fell by 2.53% to $325.76.
  • The SPDR S&P 500 ETF Trust (NASDAQ:SPY) also closed lower by 0.99% at $417.94.
  • The SPDR Dow Jones Industrial Average ETF Trust (NASDAQ:DIA) finished a touch lower by 0.04% at $347.74.

Here are the day's winners and losers from the QQQ, according to data from Benzinga Pro.

Monday gainers for the Nasdaq were found in e-commerce, pharmaceuticals and consumer staples: eBay Inc (NASDAQ:EBAY), Regeneron Pharmaceuticals Inc (NASDAQ:REGN) and Walgreens Boots Alliance Inc (NASDAQ:WBA).

Meanwhile, Tesla Inc (NASDAQ:TSLA), QUALCOMM, Inc. (NASDAQ:QCOM) and Micron Technology, Inc. (NASDAQ:MU) were among the most hammered names in the tech-heavy QQQ.

Shares of EV and EV-related stocks at large were trading lower Monday amid weakness in Workhorse Group Inc (NASDAQ:WKHS). Workhorse fell after reporting a net loss and lower-than-expected sales, while it also lowered its 2021 production target.

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