Tesla shares are trading lower amid weakness in growth stocks after Fitch downgraded its rating of US Treasuries, which has negatively impacted risk sentiment. Additionally, the company is under investigation by the NHTSA over steering control issues.
Portfolio Pulse from Benzinga Newsdesk
Tesla shares are trading lower due to a negative sentiment in growth stocks following Fitch's downgrade of US Treasuries.
August 04, 2023 | 11:43 am
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NEGATIVE IMPACT
Tesla's stock price is negatively impacted by the downgrade of US Treasuries by Fitch, causing a downturn in growth stocks.
The downgrade of US Treasuries by Fitch has led to a negative sentiment in the market, particularly impacting growth stocks like Tesla. This has resulted in a decrease in Tesla's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100