Elon Musk loses millions of euros in one day due to the crash of Tesla

• Motor: Tesla's prodigious decade: its stock market value has grown by 7,000%

Elon Musk went to sleep on Tuesday

(16.3 billion dollars) poorer (or less rich than he had gotten up in the morning).

The reason is the brutal collapse of the company he founded and runs, the electric car and battery maker

.

The company suffered yesterday the worst day on the stock market in its 17-year history: it

, until it closed with a capitalization of less than 261,000 million euros.

At least, Musk's remaining consolation is that, even after the crash,

69.8 billion ($ 82.2 billion).

The collapse of Tesla was brutal, although practically the entire market fell.

The

lost 2.3%;

the

, 2.8%;

and in

, in which technology companies have a very large weight, 4.8%.

Tesla has collapsed in large part because the directors of the

index

have decided not to accept the company in the group of 500 companies that comprise it.

That means that Tesla did not immediately enter the portfolios of the funds referenced to that index, and, therefore, does not increase the demand for its shares.

But there are other elements.

The most obvious is the

which, after an absolutely spectacular summer, lost favor with the market on Thursday and have yet to regain it.

Since last week, the US stock market appears to be betting on the economic recovery from the coronavirus recession.

Industrial finance firms, which have hitherto been the losers, are on the rise.

Meanwhile, tech companies, which had benefited greatly from the rise in telecommuting and the online economy in general, have lost favor with investors.

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