Stocks open lower as Tesla shares sink

U.S. stocks opened lower Thursday, losing ground after spending much of the week in a holding pattern. Equities fell as shares of electric vehicle maker Tesla Inc.
TSLA,
-8.52%
weighed on the Nasdaq and S&P 500 after CEO Elon Musk suggested he was prepared to boost market share at the expense of profit margins. Tesla shares fell 8% at the opening bell. The Dow Jones Industrial Average
DJIA,
-0.29%,
was down 159 points, or 0.5%. The &P 500
SPX,
-0.51%
dropped 0.7%, while the Nasdaq Composite
COMP,
-0.52%
was down 0.9%.