Motley Fool
Why Tesla Stock Is Toast Today
Tesla (NASDAQ: TSLA) took a tumble along with the rest of the tech stock market this afternoon, succumbing to interest rate fears after the U.S. Federal Reserve made public its plans to withdraw support from the high-flying U.S. stock market. As of 3:25 p.m. ET, that decision has cost Tesla stock 5.5%. CNBC has the story: From just-published minutes from the Fed’s December meeting, it’s apparent that officials “are ready to dial back policy help aggressively,” in particular, by first slowing then reversing bond purchases (i.e., selling off bonds already purchased) “in the coming months.”
