Stocks are closing lower on Wall Street Thursday, pulled down by big losses for Tesla and AT&T and signals that the U.S. economy may be slowing.
The S&P 500 fell 0.6% and is headed for a weekly loss. Tesla weighed heavily on the market again on worries about how much profit it’s making on each of its electric vehicles. Banks including KeyCorp and Zions Bancorp tumbled following weaker profits than expected. AT&T had its worst day in two decades after it reported slightly weaker revenue than analysts forecast, though profit squeaked past expectations.
