FILE PHOTO: Tesla Model X electric cars recharge their batteries in Berlin, Germany, November 13, 2019. REUTERS/Fabrizio Bensch/File Photo
(Reuters) - Shares of Tesla ended sharply lower in their S&P 500 debut Monday, with losses accelerating after news of potential future competition from Apple.
Tesla ended down 6.5% from a record high in the previous session, its steepest one-day drop in over a week. Losses steepened towards the end of the session after Reuters reported that Apple is targeting 2024 to produce a passenger vehicle that could include its own breakthrough battery technology.
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