Why Is Tesla (TSLA) Stock Down Today?

Tesla (NASDAQ:TSLA) stock is falling on Monday despite a lack of news from the electric vehicle (EV) company. Instead, it looks like the drop in TSLA stock today comes from wider issues affecting the market.

The Tesla (TSLA Stock) logo on the side of a building.

Source: Michael Vi / Shutterstock.com

Let’s start with the basics. All of the major indices, including the S&P 500, Dow Jones Industrial Average and Nasdaq Composite, are slipping today. This continues what has been a rough year for the stock market coming out of the pandemic.

So what’s behind the drop in the market recently? There are loads of issues keeping the stock market down. Among them are inflation fears, rising interest rates, worries of an upcoming recession, as well as the ongoing war in Ukraine. All of this is coming together to keep the market down lately.

If you’re wondering how TSLA stock plays into all of this, know that growth stocks are among those being hit the hardest by the current economy. Tesla is among those growth stocks, which explains why we’re seeing its shares heading lower today.

All of that comes with TSLA stock trending on Yahoo today and also seeing weak trading volume. As of this writing, about 18 million shares of the stock have changed hands. That’s still well below its daily average trading volume of about 25.4 million shares.

TSLA stock is down 6.7% as of Monday afternoon and is down 32.6% since the start of the year.

Investors searching for more of the latest stock market news are in the luck!

There’s plenty more to talk about today than just TSLA stock slipping. We’ve also got all the most recent news affecting shares of Party City (NYSE:PRTY) stock, Twitter (NYSE:TWTR) stock, and Plug Power (NASDAQ:PLUG) stock on Monday. You can catch up on all of this at the following links below!

More Stock Market News for Monday

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.


Article printed from InvestorPlace Media, https://investorplace.com/2022/05/why-is-tesla-tsla-stock-down-today-may-9/.

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