Tesla stock closes at lowest in more than two years

Monday’s market jitters brought Tesla Inc. shares to their lowest since January 2017, with trade-war fears striking at the heart of the auto maker’s China expansion plans.

Tesla TSLA, -5.22% stock lost 5.2% to close at its lowest close since Jan. 5, 2017. The shares extended their losing streak to a fifth straight session, down 11% in the period and more than 30% so far this year.

The broader market was rattled by U.S.-China entrenched in trade-war talk.

“Fundamentally, there are heightened concerns surrounding China and that a prolonged trade dispute could have a significant negative impact on Tesla’s auto sales and margins after their request for a tariff exemption was recently denied,” said Garrett Nelson, an analyst with CFRA.

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