- Most global mega-cap stocks continued their slide in October, hit by the rise in U.S. interest rates and lacklustre third-quarter earnings growth among some top U.S. tech firms.
Tesla's market value tumbled almost 20% to $638 billion last month, largely due to the impact of rising U.S. interest rates on electric vehicle demand. Additionally, Panasonic Holdings, a key supplier to Tesla, announced a reduction in automotive battery production in Japan for the September quarter, highlighting a global slowdown in EV sales.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more: