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Real-time News
The Federal Reserve accepted a total of $129.054 billion from 36 counterparties in fixed-rate reverse repurchase operations.According to the BBC: British MP Mike Amesbury has announced his resignation, which will trigger a by-election in a seat in northern England.March 11, according to CNBC, more and more investors on Wall Street are disappointed with Tesla. Before Teslas April delivery report and first-quarter results were released, UBS and Redburn Atlantic reiterated their sell ratings on Tesla due to sluggish Model Y delivery forecasts and a lack of growth catalysts in the near term. UBS lowered Teslas target price by $24 to $225, while Redburn was more pessimistic, with a target price of $160. "We expect sales to stagnate this year without the upcoming new cars," wrote Redburn analyst Adrian Yanoshik. "So far, the sluggish new car registration data may indicate continued demand challenges. At the same time, we expect cash flow to be affected by the new Model Y model that began delivery in March due to increased inventory. The United States may impose tariffs on goods imported from Mexico, increasing the cost burden." Teslas stock price plummeted more than 13% on Monday, and has fallen more than 40% so far this year. If the trend fails to reverse, the stock may fall for the eighth consecutive week after the surge triggered by the US election, the companys longest (weekly) consecutive decline in 15 years.The three major U.S. stock indices opened lower and fell throughout the day, with the Nasdaqs losses widening to 4%, the S&P 500 down 2.52%, and the Dow down 1.48%; Tesla (TSLA.O) fell 13.4%.The European Commission has expressed concerns that the companies involved may have violated EU antitrust rules, which prohibit cartels and restrictive practices, as well as abuse of market dominance.
