"Stock Market Slumps as ELF Stock Hits High and Elon Musk Makes Tesla Threat"

The stock market struggled with the Dow Jones Industrial Average falling 0.8% and the S&P 500 dropping 0.6%, while the Nasdaq edged into the black before declining 0.5%. Synopsys jumped 1.7% on news of its $35 billion deal to acquire Ansys, while Apple stock gapped down nearly 2% after cutting prices on some iPhone models in China. Nvidia gapped up 2.9% to hit an all-time high. Other notable movers included ELF Beauty, StoneCo, Tesla, Advanced Micro Devices, Western Digital, Cboe Global Markets, Parsons, PNC Financial Services, Goldman Sachs, Morgan Stanley, Boeing, and Uber Technologies.