Reuters was first to report that Elon Musk plans to cut 10% of staff and freeze hiring, citing a “super bad” feeling about the economy. The internal email, seen by Reuters, stirred investor concern about the health of the global economy, the auto industry and the electric car maker. Nasdaq fell 1% in premarket trading following the Reuters story, while shares of Tesla dropped 7% when the market opened in New York.
Automotive
03 July 2022, 6:48 am. 1 minute
Market Impact
Nasdaq fell 1% in premarket trading following the Reuters story, while shares of Tesla dropped 7% when the market opened in New York.
Article Tags
Topics of Interest: Automotive
Type: Reuters Best
Sectors: Equities
Regions: Global
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story
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