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Just days after announcing a $2 billion agreement with General Motors, Nikola Corp. is fighting back against a “short seller” accusing the startup of deception and lying about its electric technology.

A fresh sell-off in megacap technology shares sent stocks to the fourth loss in five days as investors remain worried that valuations stretched too far in a five-month rally. Treasuries rose with the dollar.

The selloff in U.S. technology shares picked up speed as investors fled the high fliers who fueled the historic five-month rally from the pandemic lows. Oil plunged, while Treasuries rose with the dollar.

Tesla Inc. fell as much as 4.2% in early Sept. 4 trading, heading for its first four-day losing streak since pandemic fears were at their height in mid-March.

Wall Street’s euphoria took a break Sept. 3, as steep losses in technology stocks dragged the rest of the market down with them.

Tesla Inc. shares are now officially in correction territory, in a week that saw the electric-vehicle maker announce a share sale that could dilute its value and a top holder say it would cut its stake nearly in half.

Tesla Inc. plans to sell as much as $5 billion of shares, capitalizing on its high-flying price and on a recent stock split that made it more accessible to individual investors.

U.S. stocks briefly surpassed the all-time closing high reached before the coronavirus pandemic, propelled by surging technology shares. The dollar weakened, and Treasury yields rose to five-week highs.

Tesla Inc. is splitting its richly valued shares in a 5-for-1 exchange, a move designed to make the stock less expensive for individual investors after the company became the world’s most valuable automaker.

A gauge of global equities erased its losses for the year as U.S. stocks climbed on optimism that officials will come to terms on fresh economic stimulus. Gold extended gains amid speculation interest rates will stay low for longer.