The NASDAQ was in the red to start the week, as shares in Tesla dropped amidst news of 2 fatalities following a car crash in the United States.
It was reported that the passengers were operating the autopilot function of their Tesla when it crashed.
According to reports, a 2019 Tesla Model S was traveling at high speed, when it failed to negotiate a curve and eventually crashed into a tree, bursting into flames.
As the issue seems to have been caused by Tesla’s technology, the company’s share price took a hit in today’s session.
$TSLA ended the day down 3.40%, with the NASDAQ trading 0.98% lower.
Bitcoin drops 15% to start the week
Although recent weekends have seen a rise in the prices of cryptocurrencies, this past weekend saw valuation significantly drop.
This drop in value was especially prevalent in Bitcoin which fell by close to 15% in the last 24 hours.
After trading as high as $63,853 on Sunday, BTCUSD fell to an intraday low of $54,286 on Monday.
Many believe that the drop could be attributed to some reports suggesting that the US Treasury was set to announce a crackdown on money laundering using digital assets.
Prices have now seemed to have found their support level and remain steady at the $55,00 point.
Manchester United stock rises on Super League announcement
Manchester United’s share price was significantly higher on Monday as the club announced that it will be part of a new Super League.
The European Super League will see England’s top 6 teams along with 3 from Spain and 3 from Italy join to form an alternative to the UEFA Champions League.
Many have condemned the move as a money grab and believe it would be going against the fundamentals of the sport, however markets seem to have taken to the news.
Shares in $MANU were up by as much as 10% at the opening bell and are now up 6.93% as of writing.
Quote of the day – “You can be free. You can live and work anywhere in the world. You can be independent from routine and not answer to anybody.”– Alexander Elder
Senior Market Analyst