Stocks fall, Tesla loses value for $267 billion

Stock value dropped by 7.5 percent in the United States, bringing the week to a close with 16 percent decline and 35 percent below the record stock rate marked on January 26, writes The Guardian.

Thus, the company's total market value fell to $267 billion in 567 billion. In January, the value of the company was $834 billion. This decline also contributed to the reduction of the boss's wealth, Elon Musk, which has about 20 percent of the shares.

Musk, who briefly held the world's richest man title last month, lost assets of $7.5 billion this year. However, it is still “out of poverty”, because it has about $162 billion.