| Stocks are doing something not seen since the tech bubble — and it's a signal the decadelong bull market is on its last legs A troubling pattern has emerged as the third-quarter earnings season enters its peak. Investors are not rewarding companies that beat earnings and sales expectations, according to Bank of America Merrill Lynch. This is happening for the first time since the tech bubble burst in 2000, and it can be interpreted as a late-cycle signal. The Dow drops more than 500 points Wall Street shuddered Tuesday, mirroring a risk-off sentiment around the world, as geopolitical tensions and the prospect of slowing economic growth continued to rattle investors. The Dow dropped 2%, or more than 525 points. The Nasdaq composite fell 2.6%, and the S&P 500 was down 2.1%. "There weren't any major new developments overnight," David Lefkowitz, senior Americas equity strategist at UBS, said in an email. "Instead, the market continues to be focused on some of the macro issues that have been weighing on the market for the past few weeks including higher interest rates, trade frictions, and pockets of softness in the global economy." Industrial companies sank after corporate earnings in the sector disappointed. 3M (-8%) missed on both the top and bottom line and slashed its profit forecast for the year. Caterpillar (-7.8%) beat profit expectations but lowered its guidance, warning tariffs would push up its costs. Short seller Andrew Left is doing a 180 on Tesla because it's 'destroying the competition' Tesla jumped 5% Tuesday after short seller Andrew Left changed his view and bought shares ahead of the company's crucial third-quarter earnings report. "Tesla is destroying the competition," Left said in a published Tuesday by his firm, Citron Research. "For the first time, Citron is long Tesla as the Model 3 is a proven hit and many of the TSLA warning signs have proven not to be significant." Tuesday's announcement may come as a surprise for some because Left filed a lawsuit against Tesla in September, alleging CEO Elon Musk was trying to burn short sellers like himself. A Rockefeller investor and ex-BlackRock vice chair are funding a fintech startup to tap into a $23 trillion market in the hottest area of investing Sustainable investing is a big business, and it's only getting bigger. JPMorgan values the socially responsible investing market at almost $23 trillion, according to an April report, with US assets in particular up 200% over the last decade. One New York-based startup is tapping into this trend, trying to bridge the gap between investors and the ever-increasing world of sustainable-focused products. Ethic, founded in 2015, works to create investing portfolios that can be customized for individuals and institutions. On Tuesday, the startup announced it raised $6.8 million in its first funding round. New York City has more penthouses available than it can fill The penthouse apartment, which occupies the highest floor of a residential building, has long been synonymous with wealth and luxury. But for affluent New Yorkers, the luxury penthouse apartment seems to be losing its allure. New York City has a surplus of penthouses on the market, according to The Real Deal. There were 443 penthouses for sale in the city as of October 12, a 16% increase from the same time in 2017. And 81 of those units are asking more than $15 million, The Real Deal reported. In markets news | 
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