Tesla Briefly Led the Nasdaq to New Heights. Here's Why It Didn't Last
On Monday, a sea of green glossed over the U.S. stock market as the S&P 500 (SNPINDEX: ^GSPC) set a new all-time high. Tesla (NASDAQ: TSLA) surged over 14%, and waves of euphoria overpowered fears of slowing growth and a prolonged pandemic. Wednesday brought a very different tune, as the Nasdaq Composite (NASDAQINDEX: ^IXIC) suffered its worst single-day drop in months and turned negative for the year after the U.S. Federal Reserve indicated interest rates could rise faster than expected.
Here's the latest on Tesla, electric vehicles (EVs), and the pros and cons that could impact the industry next.
Image source: Getty Images.
Source Fool.com
