Tesla’s stock drops as reported China price cuts signal continued economic concerns

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Tesla Inc. reportedly has reduced prices on two models in China, where it faces stiff competition from rivals such as BYD Co. Ltd. and is grappling with a continued difficult economic backdrop.

See also  U.S. confirms steep China tariff hikes, including 100% on EVs, effective Sept. 27, to protect domestic industries.

Shares of Tesla were falling more than 3% in premarket trading Friday. Investors were also grappling with news of a temporary shutdown of production facilities in Germany.

www.marketwatch.com/story/tesla-reportedly-cuts-prices-of-two-models-in-a-tough-china-market-where-byd-rules-c4d15c94?mod=mw_latestnews

Tesla to Halt Production in Germany as Red Sea Conflict Hits Supply Chains

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www.msn.com/en-us/money/companies/tesla-to-halt-production-in-germany-as-red-sea-conflict-hits-supply-chains/ar-AA1mRnIx

UN in Geneva shut down til today due to lack of funds]]

There is a global liquidity issue

www.brusselstimes.com/belgium/863803/un-temporarily-closes-geneva-headquarters-due-to-lack-of-funds

h/t Emeraldlight

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