Tesla's stock price plummeted by more than 15%, leading to a confirmed downward trend in the domestic stock market on the morning of the 11th, centered around secondary battery-related stocks.
As of 10:50 AM that day, LG Energy Solution was trading at 339,500 KRW per share, down 2.86% from the previous close. POSCO Holdings, a key raw material supplier for secondary batteries, was also experiencing a decline of over 4%. Samsung SDI fell by 3.94%. Cathode material suppliers L&F and EcoPro BM were also down by 5.46% and 3.82%, respectively.
This downward trend is analyzed as a ripple effect from Tesla's stock price plunging by a staggering 15.43% in the New York Stock Exchange overnight. This marks the largest single-day drop in about four and a half years. Amid U.S.-originated tariff wars, recession concerns, and worsening Tesla vehicle sales performance, the stock price, which had surged to $479 at the end of last year, fell to as low as $220 during trading on the 10th (local time).
iM Securities noted in its Good Morning Guide on the morning of the same day that the increased volatility observed in the U.S. stock market is acting as a factor worsening investor sentiment in the domestic market, stating, "Along with Tesla's sharp decline, the secondary battery cell and material sectors are also expected to be vulnerable."
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