Tesla's stock falls amid fears of global spread of COVID-19 - MarketWatch

Shares of Tesla Inc. TSLA, -7.92% tanked 6.4% in premarket trading Monday, as growing fears over the potential negative impacts from the global spread of COVID-19 triggered a broad-market selloff. In 2019, the electric vehicle maker derived $2.98 billion in revenue, or 12.1% of total revenue of $24.58 billion, from China, which is where the coronavirus outbreak is believed to have originated. The company also derived $12.65 billion in revenue from the U.S., $1.59 billion from the Netherlands, $1.20 billion from Norway and $6.16 billion from "other." Tesla's stock had closed Friday at $901.00, or 1.8% below the Feb. 19 record close of $917.42. Separately, shares of China-based EV maker Nio Inc. NIO, -6.67% dropped 7.1%, and futures ESH20, -3.07% for the S&P 500 SPX, -3.25% sank 2.7%.