Tesla shares fall as rail stocks dip

The shares of a rail company that is developing a new rail system for the U.S. fell as global markets reacted to the news that the U,N.

Security Council had approved the deployment of an air defense system to South Korea.

The Standard & Poor’s 500 index fell 1.5 percent to 1,811.23.

The Nasdaq composite index fell 5.4 percent to 2,894.63.

The U.N. vote, which approved the air defense and radar system in South Korea, sent the Dow Jones Industrial Average and the S&P 500 plummeting as investors rushed to get out of their stocks ahead of the vote.

Investors have grown increasingly nervous as North Korea threatens to launch a fourth nuclear test and threaten the world with nuclear war.

The air defense unit of the U-N.

mission is expected to start testing the system this week, Reuters reported.

Tesla, the biggest U.A.E. electric carmaker, said it had no immediate plans to invest in the project.

The Nasdaq and the Dow fell 1 percent each in early trading.

The Dow closed down 2.4 points at 5,096.03.

The S&P 500, which tracks the Nasdaq Composite index, was off 2.2 percent at 2,972.71.