CEO Elon Musk saw his Tesla shares fall in value by 42 billion dollars (or about 39.5 billion euros) due to the fall. That’s almost equal to what he’s willing to pay for Twitter.
Twitter, which will release figures later this week, lost 3.9 percent to less than $50. The share price is still below the $ 54.20 per share that Musk has put on the table for Twitter. The acquisition is expected to be completed before the end of the year.
Stock markets in New York fell sharply across a broad spectrum. Not only concerns about new rate hikes by the Federal Reserve, but also an escalation in relations between European countries and Russia weighed on sentiment as Russia cuts off natural gas supplies to Poland and Bulgaria. Russia also reiterated that the risk of nuclear war is increasing.
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