On October 23, 2025, when the U.S. stock market opened for trading, the three major indices presented a mixed performance. The Dow Jones Industrial Average saw a decline of 0.15%, while the Nasdaq Composite Index eked out a modest gain of 0.05%, and the S&P 500 Index edged up by 0.1%. Tesla's stock price took a significant hit, plummeting nearly 4%. This downturn came on the heels of Elon Musk lowering the targets for the company's robotics and Robotaxi initiatives. In contrast, quantum computing concept stocks experienced a remarkable surge. QBTS soared by 18%, and IONQ jumped over 10%. This uptick followed news that the Trump administration was contemplating taking stakes in multiple quantum computing firms. On the downside, Beyond Meat's stock price nosedived, falling over 17%. IBM's shares also took a beating, dropping more than 7%. Moderna's stock declined over 4%, and Super Micro Computer saw its shares slip over 2%.
