Tesla share price shows US market is going its own way

Hitting new highs after stocks hit new lows

Last Tuesday (8 September), electric vehicle and clean energy giant Tesla saw its share price freefall more than 20% – its largest fall since IPO in 2010 – after it failed to make the cut for inclusion within the S&P 500 index.

This wiped an eye-watering $70bn off of its market value. It also came days after negative sentiment towards US tech stocks began to permeate markets, with the sector dragging Wall Street lower since last Friday and through to time of writing (9 September), while fellow tech 'superheroes' Apple and Amazon dropped 6.7% and 4.3% respectively as all major US indices fell into the red. Had somebody chopped the past few days off of any ten-year line graph showing the performance of the tech-focused Nasdaq index, the S&P 500, the FAANG stocks or indeed the performance of Tesla's share price...