Jan 24
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Jessica Corchia-Durozoy downhill tech slider team Earthwing
Jessica Corchia-Durozoy downhill tech slider team Earthwing
Jessica Corchia-Durozoy downhill tech slider team Earthwing
Tesla stock falls amid investor concerns over Trump tariffs, Elon Musk's government ties
Tesla (TSLA) stock dropped as much as 6% on Monday, leading a broader tech sector slide as investors reacted to growing concerns over President Trump’s impending auto tariffs and CEO Elon Musk’s controversial government involvement, which some believe could be alienating potential buyers.
Trump is expected to enact 25% tariffs on foreign-made cars and certain auto parts later this week. While Tesla may be less affected than other automakers, Musk acknowledged the company is “still significantly” impacted and is “NOT unscathed.”
Even longtime Tesla supporter Dan Ives pointed out the downside:
“The winner in our view from this tariff is no one ... as even Tesla still is clearly hit from these tariffs and will be forced to raise prices.”
Though Tesla shares trimmed some of their earlier losses, they still closed down 1.7% for the day, contributing to a nearly 36% decline in the stock year to date.
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