Elon Musk blames Tesla's $600 billion plunge in market value this year on the Fed - as rising interest rates erode the appeal of stocks

Dec 19 2022 by Business Insider

 
Elon Musk.

REUTERS/Brendan McDermid/File Photo

Elon Musk has blamed the Federal Reserve for the sharp decline in Tesla stock this year. Rising interest rates have boosted the appeal of Treasuries relative to stocks, the Tesla CEO said. Tesla stock has been hit by fears that Musk's Twitter purchase is a costly distraction.

Elon Musk has blamed the massive drop in Tesla stock this year on the Federal Reserve, arguing the US central bank's interest-rate hikes have made the stock market less...

Continue Reading Elon Musk blames Tesla's $600 billion plunge in market value this year on the Fed - as rising interest rates erode the appeal of stocks