NEW YORK (AP) — Drops for Tesla, Netflix and other big tech-oriented stocks are clamping the brakes on Wall Street's torrid rally.

The S&P 500 fell 0.7% Thursday, coming off its highest close since early April 2022 and its seventh gain in the last eight days. The Nasdaq lost 2.1%, its biggest drop in more than four months.

The Dow was an outlier and rose 163 points, or 0.5%, because it has less of an emphasis on tech stocks.

Tesla tumbled amid worries about how much cuts to prices will hurt its future profits. Netflix sank after a key measure of revenue declined.