Tesla Shares Tumble Following Tariff Announcements

Tesla shares experienced a 6% drop in premarket trading this Thursday. This decline comes in the wake of United States President Donald Trump's announcement of sweeping global tariffs, including specific levies on cars. Elon Musk, Tesla's CEO, had previously cautioned that such measures would have a "significant" impact on the company.

Previous Rally and Current Challenges

Despite a brief rally the day before, fueled by reports of Musk stepping down from his advisory role in the Trump administration, Tesla's stock couldn't sustain its momentum. The carmaker also faced setbacks as its first-quarter 2025 deliveries fell short of analyst expectations.

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