Alibaba & Tesla Stock Lead Sharp Selloff, as Dow Jones Sinks 5.5%
The stock market crash continued today, with Dow Jones tumbling 5.5%, while Alibaba and Tesla stocks lost more than 10%.
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The stock market crash continued today, with Dow Jones tumbling 5.5%, while Alibaba and Tesla stocks lost more than 10%.
Markets Plunge: Dow and Nasdaq Under Pressure
Global equity markets saw a sharp selloff today, with the Dow Jones Industrial Average tumbling 5.5%, or 2,231 points, closing the week down 7.4% overall. The Nasdaq officially entered bear market territory, now over 20% below its February peak, driven by fears around trade tensions, recession warnings, and market uncertainty following new tariff announcements.
Tesla Stock Chart Daily – Still Above March Lows
Tesla stock initially showed resilience earlier in the week, climbing from $249 on Monday to $283 on Wednesday, despite disappointing Q1 deliveries of 336,681 units versus expectations of 390,342. Optimism was tied to the launch of the refreshed Model Y, which began rolling out globally in March.
However, the tide turned fast. Shares slipped 5% on Thursday, then plunged over 10% on Friday, tracking broader tech sector weakness. Despite the steep drop, Tesla stock is still down less than 4% for the week, supported by early gains, suggesting some investors may still be buying dips.
Alibaba: Late Collapse After Holding Strong
Alibaba (BABA) had held up relatively well in recent sessions, even as global tech stocks faltered. That changed on Friday. The stock gapped down at the open, falling as much as 14% intraday before closing 10% lower, dragged down by concerns over U.S.-China trade friction and renewed regulatory fears.
With Alibaba’s dual exposure to Chinese markets and U.S. listings, the company remains vulnerable to macro shifts on both sides.
Conclusion
Today’s massive selloff confirms that even previously resilient stocks like Tesla and Alibaba are not immune to broader market risk. The Nasdaq’s entry into bear market territory and the Dow’s steep drop highlight growing fears of a global economic slowdown. With sentiment souring and no clear resolution in sight for trade issues or policy clarity, markets could remain volatile in the near term.
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