Elon Musk made Tesla’s shares lose 10 percent with a tweet

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American businessman Elon Musk wrote on Twitter on Friday that the value of the shares of his tech company Tesla was too high, according to him. In just a few minutes, Tesla’s shares lost nearly 10 percent on the stock exchange, going from over $ 760 each to less than $ 690: a loss of capitalization – that is, the total value of the shares – of about 14 billion overall, and about 3 billion for Musk’s share only.

Musk is known for his controversial and seemingly impulsive tweets, which in the past had already created major consequences for society. In 2018, he announced cryptically on Twitter that Tesla would withdraw from the stock exchange, which hadn’t happened. The SEC, the U.S. stock exchange control agency, therefore requested that from then on its tweets with sensitive information should have been approved by an external commission. The Wall Street Journal asked Musk in an email if he was joking in the tweet and if he had checked before publishing it: “No,” Musk replied laconically.

The Trump administration postpones duties on Chinese products in mid-December

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The application of commercial duties for products imported from China to the USA postponed for three months: the 10% tax is therefore postponed, and even removed entirely for certain types of products.

Originally the new import taxes had to become operational starting from next September 1st. The new decision seems to be designed not to affect North American consumers, and the retailer industry in general, at a time like the one before Christmas, which historically sees a large number of electronic products invade the market.

The list of products with duties moved in mid-December includes mobile phones, laptops, consoles, screens, some types of games as well as products related to clothing and footwear. For some other products the tariffs have been completely canceled, but at the moment it has not been given a detailed list of what these products are.