Tesla Drives Nasdaq Lower Again; Okta Falls Despite Strong Business Growth

Dan Caplinger, The Motley Fool
·3-min read
Tesla Drives Nasdaq Lower Again; Okta Falls Despite Strong Business Growth

The Nasdaq Composite (NASDAQINDEX: ^IXIC) found itself in the line of fire again on Thursday afternoon, as the stock market once again gave up early gains to fall in the afternoon. Many market participants blamed the downturn on comments from Fed chair Jerome Powell that failed to provide much confidence in the central bank's ability to navigate a reflationary environment. As of 2:30 p.m. EST today, the Nasdaq was down almost 2.5%, officially undergoing a 10% correction from its all-time highs just last month.