The market extended its losses during the midday with the Dow plummeting 121 points to 20,515. Nasdaq fell 13 points to 5,842.
Starbucks announced a limited edition Unicorn Frappuccino that will be available between April 19 through April 23 in participating stores nationwide. The blended drink mixes a sweet pink powder into a cream Frappuccino base with mango syrup. Next, a sour blue powder is layered over the base. Finally, whipped cream is piped on top followed by a sprinkling of sweet pink and sour blue powder.
A potential strike at its German Grohmann Engineering robotics manufacturing facility threatened to derail Tesla's production plans for its first mass market Model 3 electric vehicle. The IG Metall union claims that workers at the Tesla subsidiary are paid 30% below union wages. Tesla has denied the allegations and has reassured investors that production of the Model 3 is progressing on schedule.
Volkswagen introduced its I.D. Crozz electric crossover SUV at Auto Shanghai 2017. The zero emission vehicle will have a range of up to 311 miles on a single charge and comes with a 302 horsepower engine. Self-driving technology will be incorporated into the I.D. Crozz with a retracting steering wheel for autonomous mode.
In the broad market, declining issues outpaced advancers by a margin of more than 2 to 1 on the NYSE and by nearly 7 to 3 on Nasdaq. The broader S&P 500 index fell 7 points to 2,341. Bitcoin soared $22 to $1211.
