Stock Market Update

[BRIEFING.COM] The S&P 500 is trading near its worst level of the day.

Shares of Tesla (TSLA 247.83, -16.57, -6.3%) exhibited a sharp reversal on news that it's delaying its robotaxi plans until October, according to Bloomberg. The stock had been trading nearly 3% higher at its best level of the day. 

Other heavily-weighted names continue to build on early losses. NVIDIA (NVDA 129.37, -5.50, -4.1%), Microsoft (MSFT 453.92, -12.23, -2.6%), Amazon.com (AMZN 194.93, -4.86, -2.1%), Meta Platforms (META 515.05, -19.64, -3.7%), and Apple (AAPL 227.77, -5.23, -2.3%) show some of the steepest losses in that regard. These names are the top 5 most valuable companies in terms of market cap.