Dow Jones Slides As Yields Rise; Rivian, Tesla Skid, While Gap, Nordstrom Plunge On Earnings

The Dow Jones Industrial Average dropped 200 points Wednesday, as the 10-year Treasury yield continued its recent climb. Retailers Gap and Nordstrom plummeted on disappointing third-quarter results. And Tesla stock skidded in morning trade.

Among the Dow Jones leaders, Apple (AAPL) $Apple (AAPL.US)$ traded down 0.3% in Wednesday's morning action, while Microsoft (MSFT) $Microsoft (MSFT.US)$ moved down 0.9% in today's stock market. Nike (NKE) $Nike (NKE.US)$ is back below a recent buy point after another breakout attempt.

Electric-vehicle leader Tesla (TSLA) lost 3% Wednesday. EV peer Rivian (RIVN) $Rivian Automotive (RIVN.US)$ fell over 4%, while Lucid Motors (LCID) was down nearly 3%. Chinese EV leaders Li Auto (LI) $Li Auto (LI.US)$ and Xpeng Motors (XPEV) are near buy points.

Among the top stocks to buy and watch, Amazon (AMZN), Nucor (NUE) and Pioneer Natural Resources (PXD) $Pioneer Natural Resources (PXD.US)$ are in or near new buy zones.

Microsoft, Nucor and Tesla are IBD Leaderboard stocks. Amazon was featured in this week's Stocks Near A Buy Zone story. Apple is an IBD SwingTrader stock. Pioneer was Tuesday's IBD Stock Of The Day.

Article excerpted from Investor's business daily.