Global Markets: Tesla shares drop

By Dave Sims, Commodity News Service Canada

WINNIPEG, Aug 27 (CNS) – Global stocks were on the rise
Monday after comments from the United States Federal Reserve
suggested it didn’t plan to hike interest rates anytime soon.
Japan’s Nikkei 225 index soared above the 22,700 mark while the
Shanghai Composite increased nearly two per cent. Markets in
Taiwan, Australia and South Korea were also higher.
Shares of Tesla dropped three per cent Monday morning,
after CEO Elon Musk abandoned efforts to take the company
private. Previously, Musk had said funding was secured for the
move but later acknowledged his plan wasn’t popular with many in
the company.
There are reports Mexico and the U.S. have struck a
preliminary deal over trade. Negotiations took place in the
White House over the weekend with the two sides trying to work
out their differences over automobiles and parts. There is word
Canada would be able to sign onto the deal in September.

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