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Tesla Leads Mega-Cap Tech Rally Amid Rate Cut Speculation
Tesla Leads Mega-Cap Tech Rally Amid Rate Cut Speculation
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BTCCSquare news:
Tesla shares surged 6% to $340, outpacing peers in the S&P 500 and Nasdaq 100 after Fed Chair Powell hinted at potential rate cuts. The EV maker's volatility-prone stock benefited from renewed risk appetite, though it remains the worst-performing 'Magnificent Seven' component this year with a 15% decline.
Lower interest rates could ease auto financing, but Tesla faces headwinds from expiring EV tax credits and CEO Musk's political controversies. Apple, the only other laggard in the group, has dropped 9% amid AI development concerns and tariff pressures.
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