Applied Materials tumbles after issuing a disappointing fiscal first-quarter outlook, Palantir is transferring its stock listing to the Nasdaq, and Tesla rises following a decline on worries President-elect Donald Trump will eliminate purchase tax credits for electric vehicles.

Stocks fell sharply on Friday as the post-election rally lost its momentum. The S&P 500 lost 1.6% at last check, while the tech-heavy Nasdaq Composite tumbled 2.6%. The Dow Jones Industrial Average dropped 0.8%. The Russell 2000 Index fell 1.64%.

Applied Materials tumbles after issuing a disappointing fiscal first-quarter outlook, Palantir is transferring its stock listing to the Nasdaq, and Tesla edges higher following a decline on worries President-elect Donald Trump will eliminate purchase tax credits for electric vehicles.