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Apple and Tesla: Tech stocks tumble amid supply issues

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Both companies have suffered major losses over concerns about supply chain hiccups in China.

Apple and Tesla stocks have tumbled over growing concerns about delays in their production lines in China.

Companies have struggled to keep production going in China due to Covid restrictions and weeks of lockdowns. Global investors are being cautious ahead of additional interest rate hikes, a global economic slowdown and the ongoing war in Ukraine.said Tesla's Shanghai manufacturing plant had cut production as Covid infections rose in China. The company declined to comment.

 

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