Tesla's Pre-Market Tumble

Following President Donald Trump's announcement of sweeping global tariffs, including specific levies on cars, Tesla shares experienced a 6% drop in premarket trading. CEO Elon Musk had previously cautioned that such measures would significantly impact the company.

Yesterday's Brief Rally

The decline comes after a temporary uplift the day before, when Tesla's stock rose 5%. This surge was attributed to reports of Musk stepping down from his advisory role in the Trump administration, despite the company missing first-quarter 2025 delivery expectations.

Current Trading Status

By 8:02 am ET, Tesla was trading 6.34% lower, with shares priced at $264.78.