Tesla Inc slid 3.4 per cent after a Tesla vehicle believed to be operating without anyone in the driver's seat crashed into a tree on Saturday north of Houston, killing two occupants. — Reuters picNEW YORK, April 20 ― US stocks closed lower yesterday, slipping from last week's record levels, as investors awaited guidance from first-quarter earnings to justify high valuations, while Tesla Inc shares fell after a fatal car crash.
The S&P 500 was mostly lower, with Microsoft Corp, Amazon.com Inc and Nvidia Corp also weighing on the benchmark index as analysts await results this week and next that form the bulk of earnings season. “If indeed we do keep grinding higher that would be healthy, that would suggest that the grinding higher is sustainable,” Peta said. “The pullbacks along the way are healthy.”Nvidia fell 3.5 per cent after the UK government said it would look into the national security implications of Nvidia's purchase of British chip designer ARM Holdings, raising a question mark over the US$40 billion deal.
“The market has had a huge jump to the upside so it needs to take a little bit of rest,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York.
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