The three major U.S. stock indexes opened sharply lower, with the Nasdaq falling 1.96%, the S&P 500 index falling 1.34%, and the Dow Jones Industrial Average falling 1.16%. Google and Tesla fell more than 3%, after UBS lowered Tesla's target price from $259 to $225. Meta and Nvidia fell more than 2%. Coinbase fell 5.8% and was excluded from the S&P 500 adjustment list, having previously been seen as a hot candidate.