The markets saw another wild day though this time to the down side. The Dow 30 closed lower on the day by 344 after being higher for most of the session. The S&P 500 sold off 45, and the Nasdaq 100, which was by far the weakest, sold off 211.
The Nasdaq 100 was the weakest of the group today thanks to continued selloffs in the tech space. Nvidia (NASDAQ: NVDA) was the weakest in the group as they announced they would be suspending their autonomous vehicle tests today. Other names that saw strong selling pressure include Tesla (NASDAQ: TSLA), Adobe (NASDAQ: ADBE), and Netflix (NASDAQ: NFLX) which saw losses of 8%,6.5%, and 6.14% respectively.
General Electric (NYSE: GE) saw an impressive rebound off lows today as the stock shot higher by 4.7%. The financial media was amazed at the rebound and spent their time trying to figure out who the large buyer could be. The stock hit new lows just yesterday as they continue to rebuild.
Wynn Resorts (NASDAQ: WYNN) shares were higher by a fraction of a percent today as J.P. Morgan raised it's price target to $214 from $196. The analyst firm now has more confidence that the regulatory risk has subsided since Steve Wynn has sold off his shares. The founder was forced out of his own company after sexual misconduct allegations made their way to the top of the headlines earlier this year.
Facebook (NYSE: FB) just can't get out of the headlines, and today Bank of America (NYSE: BAC) made sure of that. In a rare move by analysts at the firm, they lowered their price forecast for the second time in just 5 days due to the chaos and drama from the data breach. Though they are still optimistic about the company's future, they lowered their new price target to $210 from $230. Shares are down over 14% since the news came out.
In other news the CBOE (NASDAQ: CBOE) has petitioned the SEC to allow Bitcoin ETF's. The President of the CBOE penned a letter to the SEC's division of investment management to respond to past pushback for the application of bitcoin related ETF's. The NYSE is currently looking to get commission approval to list two Bitcoin Futures ETF's by ProShares.