TSLA is trading 3.1% down today at $397.21 after the company scrapped plans for a manufacturing plant in India and rising bond yields triggered a broader selloff in growth stocks.
- The decision to halt the India expansion raises significant questions regarding Tesla’s international growth strategy and future global production capacity.
- Higher long-term interest rates continue to pressure high-multiple technology shares, amplifying downward momentum for the EV maker following several consecutive negative sessions.