Tesla Shares Are Falling Significantly...U.S. Treasury yields rise after impact

Shares of U.S. electric vehicle maker Tesla closed sharply at $431.66, down 4.95% from the previous day, on the New York Stock Exchange.

The U.S. financial media Barrens reported that Tesla's biggest fall was due to rising U.S. Treasury yields, with the "Magnificent 7" leading technology stocks all falling.

The 10-year U.S. Treasury yield rose 0.1 percentage point to the 4.6 percent range from last week, rising to 4.64% the day before, the highest in seven months since May.

Rising U.S. Treasury yields dictate lending rates for commercial banks and negatively affect consumer sentiment in the U.S., where most cars are bought on credit.

Analysts say Tesla's fourth-quarter deliveries are estimated to be 510,000 units below the target, and there have been sell-offs to realize profits as Tesla's stock price has risen sharply.