Tesla’s stock on Tuesday fell by the most since March, in a sell-off sparked by news that the electric car pioneer was passed over for inclusion in the S&P 500.
The shares were down almost 20 per cent at one point on Tuesday morning, before recovering slightly to trade at $361.56, a loss of 13.6 per cent on the day. The retreat pushed the shares to a three-week low amid a broader sell-off on Wall Street that hit major technology companies especially hard.
The extreme volatility in Tesla’s shares has left them susceptible to wild swings. The retreat wiped $55bn from its shares in morning trading, though it gained almost that much in a single day at the end of August.
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