Tesla stock falls more than 10% in two days as bitcoin also tumbles: CNBC After Hours

SourceCNBC
SectorFinancial Markets
CountryMiddle east

CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. On today's show, Pippa Stevens breaks down the slide in Tesla stock. Plus Courtney Reagan explains Macy's first quarterly profit in over a year. Tesla drops as much as 13%, turns negative for the year Tesla suffered steep losses at the opening bell on Tuesday as investors rotated out of high-flying tech names, although throughout the session Tesla, in addition to Big Tech, clawed back the majority of the day's early losses.Shares of the electric vehicle maker dipped as much as 13% — the stock's worst day since September — before bouncing back from the low. Shares finished the session with a 2.19% loss. Bitcoin extends its slide, tumbling below $50,000 Bitcoin's price descended further on Tuesday U.S.

Treasury Secretary Janet Yellen and Tesla CEO Elon Musk weighed in on the cryptocurrency's recent rally.The world's most valuable digital coin plunged 14% in 24 hours, sinking below $50,000 to trade around $46,443 at 7:30...read more...