Wall Street's Record Rally Pauses as Tesla Shares Dip, Gold Hits $4,000
Wall Street's record-breaking rally paused on Tuesday, October 7, 2025, as tech stocks experienced a mixed day. Tesla shares dropped 4.4% following the unveiling of cheaper versions of two electric car models. Meanwhile, the gold price today hit a new milestone, topping $4,000 per ounce for the first time.
The Dow Jones industrial average fell 91 points, or 0.2%, while the S&P 500 dipped 0.4% from its latest all-time high. The Nasdaq composite sank 0.7%. Oracle shares fell 2.5% after a report indicated thin profit margins on AI-related business. However, investors continued to buy tech stocks and gold, anticipating increased productivity and inflation protection.
In positive news, Trilogy Metals shares more than tripled after the White House approved the Ambler Road mining project. Intercontinental Exchange rose 1.8% following an agreement to invest up to $2 billion in Polymarket. IBM announced a strategic partnership with Anthropic, integrating Claude AI into its enterprise software, starting with a new AI-supported development environment called 'Project Bob'.
Despite the pause in Wall Street's rally, investors remain optimistic about the tech sector and its potential for growth. The gold price today's record high reflects investors' appetite for safe-haven assets. As the market awaits further developments, tech companies continue to make strategic moves, such as IBM's partnership with Anthropic, to stay competitive in the AI landscape.
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