Why Tesla Stock Dipped on Wednesday
@Jasonc13:
The stock is down 13% month to date.Shares of Tesla ( TSLA ) slipped on Wednesday, declining as much as 3.2%. As of 2 p.m. ET, the stock was down 2.1%.The stock's decline was likely primarily in line with weakness in many growth stocks on Wednesday, ahead of the Federal Reserve meeting at 2:30 p.m. ET. But as the Fed meeting commenced, shares recovered some. As of 2:25 p.m. ET, the stock was down about 1.1%.Many growth stocks were initially sliding Wednesday as investors tried to guess the market's reaction to an expected announcement from the Federal Reserve on Wednesday about a plan for future interest rate hikes. The Nasdaq Composite was down 0.7% and the S&P 500 was down more than 0.1% as of 2 p.m. ET. Though both indexes flipped to positive once the Federal Reserve meeting commenc