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Dow Jones| Nasdaq | S&P 500 | US Stock Market Today |Live Updates: US stocks open lower as AI jitters return, oil rises

Tesla shares fell 2% on Thursday after the EV maker lowered its 2026 capital spending forecast to around $20 billion, down from over $25 billion. The reduced budget follows lower-than-expected spending on AI and robotics in the third quarter, which boosted free cash flow but raised investor concerns about the growth pace of projects like the Cybercab and Optimus robot.

While the stronger cash position could support CEO Elon Musk’s potential mega-merger between Tesla and SpaceX, analysts warn the spending trim may create uncertainty for the stock. Tesla shares are down roughly 14% this year, yet the company continues to trade at a premium valuation of over 188 times forward earnings compared to traditional automakers.Read more

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