Asian and Tesla Shares Drop While Wall Street Sets Records on Economic Data
• Asian shares mostly lower despite signs of U.S. economic growth; Japan's Nikkei fell 1.1% as inflation data showed it's slowing faster than expected • Chinese markets ended winning streak after government moves to shore up shares and property sector • Wall Street extended gains with S&P 500 and Dow hitting new record highs on strong GDP and cooling inflation • Tesla stock dropped 12% as earnings/revenue missed forecasts and it warned of lower 2023 sales growth • U.S. job market remains resilient though more unemployment claims filed; Treasury yields fell on rate cut hopes