Tesla Hit As The QQQ, SPY And DIA All Fell Today. Here's Why.

U.S. indices traded lower Thursday on reports President Biden will propose a capital gains tax for the wealthy of up to 43.4%, which is higher than the previous proposal of 39.5%.

• The Invesco QQQ Trust Series 1 QQQ fell by 1.21% at $335.20.
• The SPDR S&P 500 ETF Trust SPY closed lower by 0.91% at $412.27.
• The SPDR Dow Jones Industrial Average ETF Trust DIA finished lower by 0.93% at $338.12.

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

Gainers for the QQQ were few and far between: NetEase Inc NTES, Marriott International Inc MAR and Illumina, Inc. ILMN were among the only names positive for the day.

Micron Technology, Inc. MU, NVIDIA Corporation NVDA and Tesla Inc TSLA were a few of the notable laggards for the QQQ.

Tesla shares were trading lower after U.S. senators voiced concern over possible emerging safety concerns related to Tesla products. Weakness is also due to an overall market dip.

Elsewhere On The Street

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Walt Disney Co AMC and Sony Group Corporation’s SNE Sony Pictures Entertainment said they have entered into a multi-year content licensing deal that will give Disney U.S. streaming and television rights for “Spider-Man” and other… Read More

Chinese electric vehicle maker Nio Inc.’s NIO CEO William Li thinks Tesla is the biggest beneficiary of Chinese regulations. Li told the BBC the U.S. electric vehicle maker has been the biggest beneficiary of the Chinese government’s efforts to spur development… Read More