US stocks declined on Wednesday, led by the tech-heavy Nasdaq after lackluster quarterly results from Tesla and Alphabet.
At 9:51 a.m. ET, the Dow Jones Industrial Average was down 203.99 points, or 0.51 per cent, at 40,154.10, the S&P 500 was down 64.25 points, or 1.16 per cent, at 5,491.49, and the Nasdaq Composite was down 328.36 points, or 1.82 per cent, at 17,669.00.
At the opening bell, the Dow Jones Industrial Average fell 147.46 points, or 0.37 per cent, to 40,210.63. The S&P 500 was lower by 49.90 points, or 0.90 per cent, at 5,505.84, while the Nasdaq Composite dropped 263.44 points, or 1.46 per cent, to 17,733.91.
Tesla shares slumped 11.2 per cent after the EV maker reported its lowest profit margin in more than five years and missed second quarter earnings estimates.
Google parent Alphabet lost 4.1 per cent despite posting better than expected second quarter earnings.
But, the company flagged high capital expenses for the…
