Economics
Nasdaq Drops to 1-Month Low as Internet Shares Tumble
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Internet stocks and small-cap shares tumbled, sending the Nasdaq Composite Index near a one-month low, as investors sold some of the bull market’s best performing shares.
Tesla Motors Inc. fell 9.1 percent after a Morgan Stanley analyst said gains in the shares may slow. Facebook Inc., TripAdvisor Inc. and Twitter Inc. lost at least 3.5 percent. All 41 stocks in the Dow Jones Internet Composite Index dropped, with the gauge sliding 2.3 percent, the biggest retreat since July. The Standard & Poor’s 500 Index was little changed, helped by a rally in Molson Coors Brewing Co. on takeover speculation.