Midday movers: Apple, Nvidia, Intel, Coinbase and Moderna fall
Investing.com -- U.S. stock futures fell sharply Monday on growing fears of an economic slowdown after the release last week of weak employment data.
Here are some of the biggest U.S. stock movers today:
Apple (NASDAQ: AAPL) stock fell 4% after Warren Buffett's Berkshire Hathaway (NYSE: BRKa) unloaded nearly half of its stake in the iPhone maker as part of a broader selloff of stocks.
Nvidia (NASDAQ: NVDA) stock fell 6% after reports of a delay in the launch of the chipmaker’s upcoming artificial-intelligence chips due to design flaws.
Intel (NASDAQ: INTC) stock fell 6%, continuing Friday’s selloff when the chipmaker reported a big miss on earnings in the June quarter and said it would lay off more than 15% of its employees.
Tesla (NASDAQ: TSLA) stock fell 3%, suffering with the rest of the tech sector despite sales of the car manufacturer's China-made electric vehicles rising 15.3% from a year earlier, data from the China Passenger Car Association showed on Friday.
Coinbase (NASDAQ: COIN) stock fell 6%, with the cryptocurrency exchange suffering from the selling in the sector, as bitcoin, the most popular digital currency, dropped more than 15%.
CrowdStrike (NASDAQ: CRWD) stock rose 1% after the cybersecurity firm rejected Delta Air Lines (NYSE: DAL)' claims that it was responsible for the massive outage that caused thousands of flight cancellations in July.
BioNTech (NASDAQ: BNTX) stock fell 4.6% after the drug maker’s second-quarter earnings fell short of estimates amid a continued slide in sales of its COVID-19 vaccine.
Moderna (NASDAQ: MRNA) stock fell 3.4% after RBC Capital Markets downgraded the biotech giant to “Sector Perform” from “Outperform”, citing mounting challenges in the RSV and COVID vaccine markets.
Additional reporting by Louis Juricic