10 Firms Suffer Steep Downfall on Monday

6. Tesla Inc. (NASDAQ:TSLA)

Tesla Inc. suffered its steepest drop in five years, slashing 15.43 percent on Monday to close at $222.15 apiece, as investors sold off positions to mitigate risks from recession fears and uncertainty over President Donald Trump’s tariff plans.

With higher tariffs now in place for Canada and Mexico, which are two of the key markets of automakers including TSLA, analysts turned even more cautious over the potential impact of the new levied taxes on production, sales, and retail prices.

Monday’s decline marked the third consecutive day of sell-off for the company, as well as its seventh straight week of losses from its highest price of $479.86 on December 17.

The firm’s current stock price now represents a 53.7-percent cut, or more than $800 billion in market capitalization.

Asked how Tesla founder Elon Musk was juggling his business and role as chief of the Department of Government Efficiency, Musk said in an interview with Fox Business that he was doing so “with great difficulty.”