On Tuesday, the Dow Jones Industrial Average experienced a significant drop of 450 points or about 1.1%, while the S&P 500 and Nasdaq also saw declines of 1% and 1.5% respectively. The crypto market was also down, with Bitcoin dropping below $65,000. Meanwhile, oil prices reached their highest level since October due to tensions in the Middle East and a Ukrainian drone strike on a major Russian oil refinery. Brent crude jumped to $89 per barrel, while West Texas Intermediate crude reached $85 per barrel. Health insurance companies, such as Humana, CVS Health, UnitedHealth, and Elevance Health, saw their stock prices drop after federal regulators did not raise payments for Medicare plans as expected. Tesla delivered 386,810 electric vehicles in the first three months of 2024, falling short of Wall Street’s expectations and causing Tesla’s stock to drop almost 6% on Tuesday morning trading. The company’s shares have declined by more than 33% this year, making Tesla the worst performer in the S&P 500. Additionally, the 10-year Treasury yield rose to 4.386% on Tuesday
