Great setback! Tesla shares fell below $600: four reasons

Recently, Tesla's stock price has suffered a severe setback. On March 5th, Tesla's stock price fell 3.78% to close at $597.95. The closing price fell below the $600 mark for the first time since December 4 last year. It is reported that since 2021, Tesla's stock price has fallen by 15%. According to the closing price of US$597.95, Tesla has a market value of US$573.944 billion, still leading other automakers by a large margin. According to analysis, Tesla's stock price has fallen continuously recently, mainly due to four factors. On Thursday, Fed Chairman Powell said that as the US economy restarts after the new crown epidemic, the US is facing rising prices and inflationary pressures. Financial markets are worried that the Fed will raise interest rates to curb inflation. At the same time, bond yields have begun to climb. Some of Tesla's long-term shareholders and supporters began to cash out. In the past six months, the global automotive industry has suffered an unprecedented shortage of chips, and Tesla has not been spared either. In addition, Tesla is also facing a large-scale vehicle recall.

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