A hawkish move by the Bank Of Japan coupled with an earthquake in California propelled the S&P 500 index to its lowest level since early November in premarket trading. However, the index found support just under Monday’s low off the opening and at a few times in the session was higher by 20+ handles.
Heading into the last ten minutes of the session, the index was flirting with making a new for the day but stumbled into the close. As a result, the index only added to 3.75 handles to close at 3849.25.
While most of the mega-cap technology stocks eked out some gains, the bashing of Tesla Inc. prevented the index from having a healthy gain.
Exxon Mobil (NYSE: XOM), which has held up well during the S&P 500 index losing streak, was the biggest winner of the top components. For the session, the issue advanced by $1.53 or 1.46% to close at $106.70.
That was much better than the cash index which was higher by only 0.10%.
The fallout from the ill-fated Twitter purchase continues to haunt Elon Musk and Tesla Inc. (NASDAQ: TSLA) as it was the biggest loser of the top components. The issue went into freefall status by declining $12.07 or 8.01% to close at $137.80.
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