Tesla shares drop 54% as recession fears rise

Tesla's stock has dropped 54% since mid-December, falling to $222 per share. This decline has erased £645 billion from the company's value and £120 billion from Elon Musk's wealth, although he remains the world's richest person. The recent downturn is linked to fears of a recession due to Donald Trump's trade policies. Analysts have reduced Tesla's delivery forecasts, and the company faces increased competition, particularly from China. Sales have plummeted in key markets like Germany and Australia. Global stock markets are also struggling, with major indices like the Nasdaq and S&P 500 experiencing significant losses. Concerns about inflation and economic stability are affecting investor confidence across various sectors, including cryptocurrencies.