140 Elon Musk-led Tesla was knocked out of a key US stock index’s top 10 companies on Tuesday after its shares plummeted 11 per cent in just one session. Tuesday was Tesla’s seventh day on a losing streak, its longest since 2018. Elon Musk’s decision to halt production at Tesla’s Shanghai factory and reports of reduced output at its key production units are being cited as immediate reasons for Tesla’s nosediving shares. Furthermore, reports that Tesla was offering individuals in the United States a $7500 discount for its two highest-volume models didn’t impress Tesla investors in addition to the signs of slowing demand. You Might Be Interested In GameStop Raises $2.14 Billion Through Stock Offering Peso weakens after hawkish Fed remarks, global oil price recovery Volvo Shifts Production of Chinese-Made Electric Vehicles to Belgium Amid EU Trade Policy Concerns Thailand, and Sri Lanka sign a free trade agreement Bill Ackman Anticipates Federal Reserve to Initiate Interest Rate Cuts Sooner Than Market Predictions Intel Reportedly Halts Construction of $25 Billion Chip Plant in Israel