SpaceX and Tesla stocks extend their slide as chip stocks drop: AlphaCheck

Good morning. The major averages were mixed on Thursday as shares of SpaceX ( SPCX ) and Tesla ( TSLA ) also extended declines, dropping 6% and 9%, respectively. Shares of the Elon Musk-led companies were hit on Wednesday after Democrats took control of the House and Senate, raising concerns over regulatory hurdles for data center buildouts in the US.

The Tech ( XLK ) sector declined on Thursday, as semiconductor stocks also extended declines following results from Qualcomm ( QCOM ) and Arm Holdings ( ARM ).

Oil prices rebounded with Brent crude oil futures ( BZ=F ) jumping 3% to around $97 per barrel, while WTI ( CL=F ) also rose to $89 per barrel.

Here's a check of the markets in the first few minutes of trading, based on a heat map powered by Yahoo Finance AlphaSpace data .

Here are some other notable stocks that Yahoo Finance readers are viewing this morning: AppLovin ( APP ), Toyota ( TM ), and Mercado Libre ( MELI ).