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Panic Selling Grips Chinese Stocks in Biggest Plunge Since 2008

Reuters

Musk says Tesla, SpaceX see significant inflation risks

Musk in a tweet also asked about inflation rate outlook and said his companies “are not alone”, retweeting an article saying the Ukraine-Russia conflict sent commodity prices to their highest levels since 2008. Russia’s invasion of Ukraine has been ramping up the prices of metals used in cars, from aluminum in the bodywork to palladium in catalytic converters to the high-grade nickel in electric vehicle batteries, and drivers are likely to foot the bill. Tesla’s shares, which closed 5% lower at $795.35 on Friday, have lost about 25% year-to-date.

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