Chilean President Gabriel Boric's plan to nationalize his country's immense lithium industry is putting the spotlight on an emerging crop of filtration technologies aimed at revolutionizing how the metal is produced for the electric vehicle industry.
The Nasdaq closed lower and underperformed the S&P 500 and the Dow on Monday, pressured by high-profile megacaps as investors awaited results from companies including Microsoft while Tesla shares fell on concerns about its spending plans.
Chile, the world's second largest lithium producer, said it plans to transfer control of the production of the mineral essential for electric vehicle (EV) batteries to a new state-owned company.
A blistering rally in megacap growth and technology shares has buoyed markets this year, and earnings reports in coming weeks could help investors determine if those gains are justified.