TSLA - Hot Stocks: TSLA and EV stocks fall; UHS drops on earnings; PTGX plunges 50%; MX NXRT rise

Ongoing concerns about the health of the global economy sent stocks tumbling on Tuesday, accelerating the downward pressure that has marked most of the past few weeks. With consumer and technology stocks among the worst performers, the Nasdaq led the decline, falling almost 4% and reaching its lowest close of 2022. Electric vehicle stocks played into the selling spree. This included a double-digit percentage loss by Tesla (TSLA), as well as substantial weakness in names like Rivian (RIVN), Faraday Future Intelligent Electric Inc. (FFIE) and Lucid Group (LCID). Among the other standout losers, Universal Health Services (NYSE:UHS) dropped on a poorly received earnings report. At the same time, Protagonist Therapeutics (PTGX) lost half its value after the release of clinical trial data, falling to a new 52-week low.  Despite the overall weakness, some stocks managed to push higher. Magnachip (MX) jumped almost 20% on takeover chatter. Meanwhile, earnings news allowed

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Hot Stocks: TSLA and EV stocks fall; UHS drops on earnings; PTGX plunges 50%; MX, NXRT rise