ReNew Energy Global (ReNew), the listed parent of Indian renewable energy company ReNew Power, has announced a share buyback worth $250 million just six months after getting listed on the Nasdaq index
The nervousness in the IT stocks, analysts believe, is on account of rising employee costs at a time the business growth has been modest year-on-year in the December 2021 quarter (Q3FY22)
A pan-European equity index opened more than 1% higher, U.S. stock futures rallied and Japan's blue-chip Nikkei rose 0.3%, buoyed by Wall Street's overnight gains
Shares of the Austin, Texas-based electric vehicle maker plunged nearly 12% on Thursday
All the 11 major S&P sectors declined in early trading, with nine of them falling more than 2% each
The Nasdaq 100 tumbled 7.5% this week as what started as an aggressive selloff in speculative corners spread to the rest of the market.
Investors emboldened by a strategy that worked all of last year plowed more than $1 billion into tech in recent days, with nearly every other sector also getting deposits.
Nasdaq 100 was 0.4% higher on Thursday after the worst two-day rout since March even as Tesla Inc. and Netflix Inc. fell more than 1%.
The Dow Jones Industrial Average fell 94.63 points, or 0.26%, to 36,705.02
The advance came on a broadly positive session for stocks, where Apple and Amazon.com Inc. both contributed to the Nasdaq 100 Index outperforming.
The Nasdaq Composite added 196.73 points, or 1.26%, at 15,850.10
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The Dow Jones Industrial Average fell 652.22 points, or 1.86%, to 34,483.72
The S&P 500 was down 86.05 points, or 1.83%, at 4,615.41 and the Nasdaq Composite was down 214.71 points, or 1.36%, at 15,630.52