Shares in Tesla plunged as much as 12% on Thursday, wiping $80 billion off the company’s market value hours after it warned of slowing growth in electric car sales. In the face of intensifying competition from global rivals, Tesla also recently lost the lead in global EV sales to Chinese automaker BYD
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Here’s what else you need to know to Get Up to Speed and On With Your Day. |
- Gas prices
- Protesters hurl soup at the 'Mona Lisa' in Paris
- China
Gas prices
The average price for a gallon of gas in the US is $3.10 — a significant decrease from the all-time peak of $4.67 in fall 2022. Still, drivers in many states consistently pay much more for gas than the rest of the country. California's current average price is $4.49, largely due to environmental restrictions, higher taxes and a shrinking number of regional refineries. Hawaii is the only state currently with higher gas prices than California, but the state's geographical isolation plays a large role in prices. As for the rest of the nation, analysts say gas prices will hold steady for now, even amid escalating violence in the Middle East. That's because some economic factors — such as weaker demand in countries like China and Germany and an ample oil and gas supply — are superseding concerns about the violence in the region.
Protesters hurl soup at the 'Mona Lisa' in Paris
The "Mona Lisa" painting was targeted with soup on Sunday but was not hit directly as it is protected by a glass casing. See a photo of the vandalism.
China
The embattled Chinese real estate firm Evergrande has been ordered to liquidate in a massive setback for China's ailing property sector that could ripple through the world's second-largest economy. Court-appointed liquidators will manage the company and sell its assets to pay off its debt. After the process is completed, the company, previously China's second-biggest real estate firm, will cease to exist. Apart from a record downturn in real estate, investors have also been concerned about a myriad of economic problems facing China, including deflation, debt, a falling birthrate and a shrinking workforce, as well as Beijing's shift towards ideology-driven policies that has rattled the private sector and scared away foreign firms.
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NASA ending Ingenuity helicopter mission on Mars
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After three years, the first mission to fly a helicopter on another planet has come to an end after sustaining damage to one or more of its rotor blades.
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