Tesla Inc TSLA shares are marginally lower by 0.50% to $161.02 Tuesday morning, off the session high of $165.49. The stock is trading down potentially amid overall market weakness Tuesday as traders and investors monitor ongoing uncertainty in the regional banking sector.
Tesla may also be trading lower as traders and investors await this week's Federal Open Market Committee's (FOMC) interest rate decision. The FOMC is widely expected to issue at least one more 0.25% interest rate hike at the conclusion of its meeting on Wednesday.
The rate hike itself will likely not move financial markets much, but the language the FOMC uses in its policy statement could be a major catalyst.
When interest rates rise, the value of future cash flows is reduced for growth stocks like Tesla, which in turn lower the value of the stock.
See Also: Did Musk Settle Defamation Lawsuit For $10K? Tesla Sets Record Straight
According to data from Benzinga Pro, TSLA has a 52-week high of $318.50 and a 52-week low of $101.81.
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