Today's Tesla Stock Crash

Tesla (NASDAQ: TSLA) shares fell 7.4% Monday, hitting their lowest level in 18 months. Two factors prompted the move. At 12:55 p.m. ET, the stock was down 3.3%.

Wall Street Journal price certainly caused today's gloom. Tesla's Model 3 and Model Y are cheaper for Chinese buyers. Today's Tesla news also involves China.

Investors fear the price decrease signals decreasing demand in China. Chinese President Xi Jinping has filled his administration with cronies who are less sympathetic to private enterprises.

Chinese IT stocks fell today because investors believe lockdowns to control COVID-19 and tougher company rules might hamper economic development

Model Y will cost Chinese buyers less than $40,000 and Model 3 roughly $36,600. When a firm lowers pricing due to diminishing demand, investors worry. 

Tesla's rebuilt Shanghai facility produced 83,135 EVs in September. Raw material costs may have also lowered prices. 

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