TeslaThe tech-heavy morning brought down stock prices by more than 9% Nasdaq Composite slipped about 2.2%. Another mega-cap tech stock is Apple, Amazon, Google MetaThey were also between 2 and 4 percent.

This slip is just one day after Twitter’s board approved Musk’s $44 billionThe company’s acquisition may have led to some decline in the stock, which could be due to investor worries about the deal. Musk has $25.5 billion worth of fully committed debt. $12.5 billion in loans against his Tesla stock. A $21 Billion equity commitment is also provided by him.

Musk, the world’s most wealthy person, has a large portion of his wealth in Tesla stock. He would have to use this to pay for the transaction.

Investors might also worry about the distractions that Twitter can cause. Musk seems to desire to have a large influence on the operations of the company, which could cause a delay between all his companies. If the deal is completed and Musk becomes CEO, that will leave Musk in control of everything. TeslaTwitter, SpaceX. Two smaller ventures he owns are the Boring Company, and Neuralink.

Tesla also stated in its April 20th earnings report that while the automotive revenue rose 87% to $16.86billion, it was down about one month’s worth of build volume in Shanghai due to Covid shutting downs.

Kirkhorn stated that production is returning to a limited level and that he was working hard to return to full production quickly.