Tesla was among the biggest drags on the S&P 500 in its first day of trading on the benchmark. The S&P 500 fell as much as 1.9pc. Read MoreInstitutional buying of Tesla surged late Friday as index-tracking managers rushed to add the shares to their funds. More than $150bn worth of Tesla shares traded on Friday, ahead of the index inclusion. Other electric vehicle companies, whose shares have gained significantly over the past month after the S&P 500 inclusion was announced, were also weak yesterday.

Source: Irish Independent December 22, 2020 02:37 UTC