- Tesla (QIPT) falls 8.28% on the day, hitting three-day lows.
- The FOMC dot plot projections increased their interest rate forecast to 3.9% from 3.4% for 2025.
Tesla (TSLA) shares hit a daily high of $488.54, finding aggressive sellers that drove the stock price to a three-day low of $427.01. Currently, TSLA is trading above $440.13, losing 8.28% today.
Tesla stock reacts lower after release of FOMC projections
Electric car maker Tesla (TSLA) erased the week’s gains by posting a drop of 8.28% today, hitting lows not seen since December 13 at $427.01.
This drop follows the 25 basis point cut in interest rates by the Federal Reserve, placing it in a range between 4.25%-4.50% and the projections of the dot graph indicating that they will place rates at an average of 3.9 % at the end of 2025. This projection has been adjusted upwards since the September publication that placed it at 3.4%.
Tesla technical levels
TSLA stock reacted lower to near-term resistance given by today’s high at $488.50. The closest support is at $378.01, the December 9 pivot point, supported by the 9-period simple average. The next key support is seen at $326.61, the minimum of November 27.
TSLA 2-hour chart
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
