Here’s what we’re watching ahead of Wednesday’s open
But the downdraft in major tech shares was hitting most of the giants. Microsoft slipped 1.3% premarket, Apple shed 1.4%, Google-parent Alphabet fell 1.5%, Netflix gave up 0.9% and Intel lost 1.3%.
Cryptocurrencies turbo-charged by Tesla CEO Elon Musk got another boost Wednesday. The token Shiba Inu gained 65% over the previous 24 hours, adding to a days-long rally after Mr. Musk posted a new photo of his Shiba Inu puppy named Floki on Monday. The coin now has a market value of $8.5 billion, making it the twentieth largest cryptocurrency, according toShares of American Airlines Group lost 3.
Vaccine makers Moderna and Novavax look set to remain stuck in the doldrums that began after Merck’s successful test of its Covid-19 treatment. Novavax dropped 5% premarket and Moderna fell 2.6%. Business-development company Saratoga Investment ‘s stock nudged up 1.2% in the extended session after it reported record repayments during the second quarter.
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