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: Tesla stock at two-year low, other EV-maker shares plunge as concerns simmer about China, oil futures

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Tesla Inc. shares on Monday were poised to end at a fresh two-year low, with shares of other electric-vehicle makers also underperforming the broader equity market as worries about China’s COVID-19 lockdowns re-emerged and oil futures prices dropped to their lowest level since January.

Shares of Tesla
TSLA,
-6.51%

extended their losing streak to a fourth session and were on track for their lowest close since Nov. 20, 2020, when they closed at $163.20. The stock was the 10th worst performer in the S&P 500 index
SPX,
-0.36%

and fourth worst in the Nasdaq 100
COMP,
-1.03%

— and the most active stock on both exchanges.

American depositary shares of several China-based EV makers, including Nio Inc.
NIO,
-4.78%

and XPeng Inc.
XPEV,
-5.99%
,
also underperformed the broader market. In contrast, shares of General Motors Co.
GM,
-0.59%

and Ford Motor Co.
F,
-0.39%

merely edged lower.

The energy sector was taking a broad beating as well, with the SPDR Energy Select Sector ETF
XLE,
-1.80%

looking at a four-week low.

Related: GM’s EV roadmap is ‘ambitious,’ but Wall Street doesn’t give it full credit just yet

Tesla’s underperformance as compared with the broader indexes holds on a monthly and yearly basis as well. The stock is down more than 25% so far in November and 52% this year.

If the trend continues, this would be the worst yearly performance for the stock on record.

The S&P has lost about 17% year to date and has clawed back to a 2% gain so far in November.

The Moneyist: My wife agreed to be guarantor for her son’s rental without telling me. His car was repossessed for nonpayment of his loan. What should I do?

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