Tesla's Market Shock Following Tariff Announcement

Tesla shares experienced a sharp 6% drop in premarket trading this Thursday. This downturn comes in the wake of President Donald Trump's announcement of extensive global tariffs, including specific levies on automobiles. Elon Musk, Tesla's CEO, had previously cautioned that such measures would significantly affect the company.

Previous Rally and Current Challenges

Despite a 5% surge the day before, fueled by reports of Musk stepping down from his advisory role in the Trump administration, Tesla couldn't maintain its momentum. The company also revealed that its first-quarter 2025 deliveries fell short of analyst expectations, adding to the day's challenges.

By 8:02 am ET, Tesla's shares were trading at $264.78, marking a 6.34% decrease.