Tesla shares lose $25 billion in a single day

Tesla shares fell 2.3% on Monday, dropping from a three-month high, and the company lost $25 billion in market value in a single day.

With these losses, Tesla fell from eighth to ninth place on the list of the world’s largest companies, behind Berkshire Hathaway.

Most major technology companies came under selling pressure on Monday due to a rise in benchmark 10-year US Treasury yields on concerns that the US tax bill would increase the debt burden more than previously expected.