Tech stock’bubble’ warning lights such as Tesla on soaring interest rates… Nasdaq plunged 3.02%
Authorities “will closely monitor autonomous driving functions” in a successive Tesla accident
The share price of Tesla, a U.S. electric car maker, plunged by nearly 7% and slipped again.
Tesla closed at $653.16 on the 18th (local time) in the US New York Stock Market, down 6.93%.
As the 10-year US Treasury bond rate soared, the bubble warning about high-value technology stocks represented by Tesla turned back on, pulling the stock price down.
The Associated Press reported that “most of the expensive technology stocks fell due to rising interest rates.”
Apple slipped 3.39%, and Microsoft fell 2.67%.
Accordingly, the Nasdaq index centered on technology stocks plunged 3.02% to 13,116.17, ending the market.
Tesla faced not only a plunge in stock prices, but also a massive investigation by the U.S. transportation authorities that drew a knife in a subsequent car accident.
The National Highway Traffic Safety Administration (NHTSA) is investigating 23 Tesla crashes, three of which have occurred in recent weeks, Reuters reported.
NHTSA recently dispatched a special investigation team to a police patrol car in Michigan State where a Tesla car that activated the autonomous driving function was parked, and the Tesla car was jammed under a freight car.
In addition, a Tesla car accident was reported in Houston, Texas, and an investigation team was decided to be dispatched.
In addition, NHTSA announced that it has also received a report from Tesla regarding the’Full Electronic Rate Driving’ (FSD) software that implements autonomous driving functions mounted on Tesla vehicles.
NHTSA said, “We will be closely monitoring the new technology and will not hesitate to take steps to protect the public from safety risks.”
In addition to Autopilot, which is the basic option for autonomous driving, Tesla launched an additional option, FSD, in October last year, and is providing FSD software to limited customers to collect road driving data.
Tesla explains that autopilot provides functions to adjust the distance between vehicles within the same lane, and FSD provides functions such as automatic lane change, automatic parking, and vehicle call.
In response, NHTSA stressed that Tesla’s FSD is not a “self-moving car” function.
Elon Musk, CEO of Tesla (CE0), has consistently promoted the autonomous driving function, but Tesla is guiding that active control, such as keeping an eye on the front and holding the steering wheel, is necessary when activating the autopilot and FSD functions through its homepage.
/yunhap news