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Fortune
Fortune
Brooke Seipel

Tesla's earnings surprise sends stock soaring, but tech struggles drag the market down for a third day

Elon Musk raises a fist in front of the American Flag. (Credit: Photo by Alex Wong/Getty Images)

U.S. stocks fell on Wednesday, extending Wall Street’s losing streak to three days as the market struggled under the weight of rising Treasury yields and disappointing earnings. After hours, Tesla's stocks surged on a better-than-expected earnings report, climbing more than 9%. Tesla said it plans to start production on affordable models early next year, projecting 50% growth in 2025 compared to its 2023 production volumes.

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