stock as a potential bargain, and warned the Federal Reserve has hiked interest rates way too high, given prices appear to be declining. Wednesday that Musk might be partly responsible for the 64% plunge in Tesla's stock price since April, which has wiped over $600 billion from the electric-vehicle company's market capitalisation., before taking aim at the US central bank.
Inflation surged to a 40-year high of 9.1% in June, and remained north of 7% in November, well above the Fed's annual target of 2%. The central bank has responded by hiking interest rates from virtually zero in March to over 4% today, in an effort to cool demand and curb the pace of price increases.
United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Elon Musk said Twitter is like a crashing plane with its 'engines on fire' | Business InsiderIn a Twitter Spaces, Elon Musk also said advertisers asked 'hard questions' about the return on investment because of the declining economy.
Read more »