The Dow Jones Industrial Average dropped 175 points Monday. Bitcoin fell because Elon Musk tweeted about it. Tesla’s stock went down in the morning trade, and it is now trying to find support at a critical long-term level. Apple and Microsoft both went down 1.6% today in the stock market.Goldman Sachs (GS) is still in buy range, it dropped below its buy point last week but then came back. JPMorgan (JPM) is also in buy range. It broke out and went up after a long time.

Did Elon Musk’s Bitcoin Tweet Influence The Dow Jones?

On Monday, Tesla’s stock price went down by about 2%. Over the weekend, Elon Musk said in a tweet that he might sell Tesla’s remaining Bitcoin. It is not clear what he meant and he later clarified his comments.
There are many stocks that seem good to buy. Are some of them ASML, JEF and MRVI? Is Bitcoin a good investment at $43,000?
ASML and Microsoft are stocks that led the market. Jefferies was a stock to watch on Wednesday. Maravai was on Friday’s Stock of the Day, while JPMorgan was in last week’s Stocks Near A Buy Zone column.

How The Dow Jones Reacted Today

The Dow Jones Industrial Average traded down 0.5% today, the S&P 500 also went down 0.6%. The tech-heavy Nasdaq composite also sold off 0.9% today in midday trade.

Among ETFs, the Innovator IBD 50 (FFTY) declined 1.1% on Monday. The Nasdaq 100 tracker Invesco QQQ Trust ETF (QQQ) traded down 1%. Meanwhile, the SPDR S&P 500 ETF (SPY) lost 0.4%.

Is There A Split Stock Market Rally?

The Dow Jones Industrial Average and S&P 500 looked at their recent highs after the strong gains in Friday. Meanwhile, the Nasdaq was 5% off its high. The stock market is going well. There was a lot of good news, but then it lost some money. It’s below its 50-day moving average.

Elon Must Makes It Clear He Did Not Sell All Of His Bitcoin

Elon Musk, the CEO of Tesla, said on Twitter that Tesla has not sold any Bitcoin. “Tesla has not sold any Bitcoin.” This is what Musk said on Twitter.

Bitcoin is down 20% since @ElonMusk started shitposting.

And you wonder why some people are mad? 🤔 pic.twitter.com/WDMvcptFsK

— Bitcoin Archive 🗄🚀🌔 (@BTC_Archive) May 16, 2021

The price of bitcoin increased. It went up to $44,680 at 2:35 am today.
Earlier, the price of bitcoin went below $43,000. This happened after Elon Musk said in a twitter exchange that Tesla might sell its Bitcoin.
A Twitter user who goes by @CryptoWhale said, “Bitcoiners are going to slap themselves next quarter when they find out Tesla dumped the rest of their holdings. With the amount of hate @elonmusk is getting, I wouldn’t blame him…”

Musk tweeted, “Indeed.”

Tesla is a company that wants to use the bitcoins they already have for transactions. They don’t want to sell them. The company just said they will not sell their coins, but keep them instead. For now, the coins are used for transactions when it is possible. Tesla has not responded yet to a request for comment about this issue.

Summary

Article Name

Dow Jones Plunges as Bitcoin Slides on Elon Musk Tweet: Apple, Tesla Stock Sell Off

Description

Dow Jones Industrial Average fell more than 2.6% in early trading Monday after a tweet from Tesla CEO Elon Musk that he had sold all of his Bitcoin.

Author

Vladimir

Publisher Name

ArmyOfBitcoin.com

Publisher Logo