"Tesla Stock Slides on Slumping Shipments and Price Cuts in China"

Tesla's stock tumbled to multi-week lows as its shipments from Giga Shanghai factory in China dropped by 16% in February, signaling potential troubles in the world's largest car market. The company also announced new price cuts in China, where a recent slowdown in EV demand has led to a price war among automakers. This comes as China now sells the most EVs in the world, with Tesla facing fierce competition and having to cut prices, raising concerns for investors. However, the threat from Chinese automaker BYD entering the US market seems to have diminished for now.