Top Stock Movers Now: Tesla, Royal Caribbean, Nvidia, and More

U.S. equities slumped at midday on concerns about tech stocks and as the Federal Reserve began its latest meeting, when policymakers will consider the future of interest rates with worries of an economic slowdown growing. Renewed Israeli attacks in Gaza also roiled the market. The Nasdaq was down almost 2%, the S&P 500 dropped 1%, and the Dow Jones Industrial Average fell as well.

Tesla (TSLA) shares slid when RBC analysts cut their price target, citing weak deliveries of the carmaker’s EVs in China and Europe, and Chinese electric vehicle maker BYD unveiled an ultra-fast charger.

Shares of Royal Caribbean (RCL), United Airlines (UAL), and other cruise operators and airlines skidded on fears new Middle East tensions and economic concerns may impact travel demand.

Nvidia (NVDA) shares declined ahead of comments from CEO Jensen Huang at the chipmaker’s big artificial intelligence (AI) conference.

Mosaic (MOS) shares gained when the miner of chemicals for fertilizer said macroeconomic trends provide a favorable backdrop for the company.

Shares of Peabody Energy (BTU) advanced after President Trump backed U.S. production of so-called “clean coal.”

Lucid Group (LCID) shares jumped on an upgrade from Morgan Stanley, which explained that the struggling EV maker’s AI strategy could drive results.

Oil futures and the yield on the 10-year Treasury note were little changed. Gold prices hit another record high. The U.S. dollar rose versus the yen and was little changed against the euro and pound. Most major cryptocurrencies traded in negative territory.