Tesla (NASDAQ: TSLA) stock got hit with a substantial valuation pullback in Tuesday’s trading. The electric vehicle (EV) leader’s share price ended the daily session down 5%. Meanwhile, the S&P 500 (SNPINDEX: ^GSPC) fell 0.1%, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) fell 0.8%.
News involving Tesla played a significant role in pushing the broader market lower in Tuesday’s trading. After hitting record highs in Monday’s session, some investors were likely already poised to take profits — and another ramp-up in the feud between Elon Musk and President Trump prompted sell-offs for Tesla that had ripple effects for other tech stocks.
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