Shares of Tesla Inc. fell for a fifth consecutive session on Monday, caught in a tech-led selloff that has wiped more than $244 billion off the company’s market value over the last month.
High-flying tech stocks, which powered the market’s rebound from the pandemic lows in March last year, have been hit by a one-two punch of rising yields and investors shifting funds to sectors poised to benefit from a recovery in the global economy aided by accelerated rollouts of COVID-19 vaccines.
