Nasdaq Plunges 2.4% as Alphabet, Tesla Lead Sell-Off

Alphabet (GOOGL) and Tesla (TSLA) led a broad sell-off on Wall Street on Thursday, dragging the Nasdaq composite down 2.4% as oil prices surged.

Reasons for the Decline

Disappointing Earnings

Both Alphabet (Google's parent) and Tesla reported quarterly earnings, triggering heavy selling in their shares. The report did not provide specific figures, but the market reaction was negative.

Surging Oil Prices

Oil prices jumped sharply on Thursday, adding pressure on markets and raising concerns about energy cost inflation.

Major Index Performance

• Nasdaq: Fell 2.4%, the biggest loser.
• Dow Jones Industrial Average: Declined sharply.
• S&P 500: Not mentioned in the report, but likely also affected.

Broader Context

The moves come amid a period of volatility in U.S. markets, with investors awaiting inflation data and Federal Reserve decisions.

What This Means for Investors

This move suggests that quarterly earnings reports from major companies can be a key driver of short-term market volatility. Additionally, rising oil prices add inflationary pressures that could impact monetary policy.