Wall Street on a slide

K. T. Jagannathan

It is a free fall on Wall Street. The Dow Jones shed over 500 points, the S&P 500 dropped more than 80 points and the Nasdaq plunged near 4% early Tuesday.

The tech sell-off continues on valuation concerns. Tesla shares lost near 15% after the company was not included in the S&P 500 index.

The FAATMAN (comprising Facebook, Amazon.com, Apple, Tesla, Microsoft, Alphabet, and Netflix) collectively lost over $1 trillion in market capitalization since September 2. And, they are trading lows early Tuesday.

Analysts are still trying to decipher the carnage. Plenty of theories are circulating at the moment on the trigger for the free fall.