Bitcoin fell nearly 5% on Thursday amid a broader sell-off after Federal Reserve Chairman Jerome Powell stopped short of offering a strong rebuke to the recent spike in Treasury yields.
Tesla share price plunge knocks $267bn off market valueDecline wipes billions off Elon Musk’s fortune as investors fear firm is vastly overvalued The Tesla Model S, a premium electric sedan. The company’s shares dropped by 7.5% in early trading in the US on Friday to $575. Photograph: AP
Li Auto (NASDAQ: LI) was down about 10.3%. Just about all of the hot electric-vehicle and related stocks have been selling off this week, in part because of concerns about rising interest rates and in part because of an ongoing selldown of the category leader, Tesla (NASDAQ: TSLA). As for Tesla, some of the issues driving its stock lower are unique to Tesla, and not reflective of the broader opportunity for electric-vehicle makers.