Tesla deliveries, Taiwan earthquake, Intel loss - what's moving markets
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Tesla reported weak first-quarter vehicle production and deliveries, with an 8.5% decline from the year-ago quarter and a 20% decline from the previous quarter. This is the first year-over-year decline since Q2 2020. Tesla stock fell around 5% on Monday. Taiwan Semiconductor Manufacturing (TSMC) evacuated some factory areas after a 7.5 magnitude earthquake hit Taiwan, potentially causing production delays. TSMC supplies major companies like Apple, Nvidia, and Qualcomm with semiconductors. Intel disclosed deepening operating losses for its semiconductor manufacturing business, with $7 billion in operating losses for 2023 on sales of $18.9 billion. Intel stock fell over 4% premarket. Oil prices steadied near five-month highs as traders digested signs of shrinking U.S. inventories and potential supply disruptions.
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