Tesla, an automobile manufacturer, faced a decline on Wall Street due to ongoing investigations by public prosecutors in the United States. The investigation centered on whether Tesla misled consumers and shareholders about the capabilities of its self-driving cars. Numerous accidents involving Tesla’s Autopilot driver assistance system have resulted in fatalities, prompting investigators to look into whether Tesla committed fraud by exaggerating the system’s capabilities. In addition to this investigation, Tesla also faced challenges with its Shanghai factory, reporting fewer shipments in April. This news led to a drop in Tesla shares. Despite these setbacks, the overall mood on Wall Street remained cautious following a recent strong rebound. The Dow Jones index saw gains for the sixth consecutive day, while the S&P 500 closed flat and the Nasdaq lost some ground.
On the other hand, Uber experienced a significant decline in its stock value after a disappointing quarterly report. The taxi and delivery company reported losses in the past quarter. Overall, the market showed some volatility and uncertainty in response to various developments in the tech and automotive sectors.
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