Tesla’s stock slipped 1% as concerns grew that the electric vehicle giant might not escape the impact of looming tariffs.
On Thursday, Tesla shares declined 1.02% on Wall Street, closing at $374.32.
While there was no Tesla-specific news behind the drop, market sentiment was shaken by Ford’s pessimistic outlook. The Detroit automaker’s stock plunged 7.49% after it cut its annual revenue forecast, citing the Trump administration’s tariff policies as a key factor.
This fueled fears that Tesla could also be affected, likely contributing to its modest 1% decline.
The dip followed a 3.35% drop the previous day after reports revealed a sharp 59% sales decline in Germany, highlighting broader challenges in the European market.
Despite these setbacks, Tesla’s stock remains up 45% since President Trump’s election, though it has fallen 8% year-to-date.