Tesla (TSLA) Stock Falls After Pulling Orders From China
Tesla (TSLA) stock is down during Friday’s trading session after the EV maker pulled the option to purchase select Tesla vehicles in China. Tesla removed the “order” button from its China website for the Model S sedan and Model X SUV. The EV maker updated its model lineup both in China and the US on Friday due to tariffs and demand issues. This week, China raised its tariffs on US imports to 125% from 84%. The hike comes as the two appear in a tariff standoff, with the latter also raising its tariffs against China but pausing tariffs against other countries. Tesla fell 3% on Saturday after rebounding slightly on Wednesday and Thursday. Chinese customers can still purchase the vehicles from the country’s existing inventory, however, Tesla has only sold around 2,000 Model S and Model X EVs in China. Tesla is up around 5% in the past week following Wednesday’s climb amid market volatility. The majority of the US stock market, especially top options like TSLA and NVDA, wer...