Tesla Inc TSLA shares are trading lower by 6.51% to $218.33Monday morning. Shares of several growth companies, including Tesla, are trading higher amid a fallin treasury yields, which has pressured growth stocks. Major indices are higher as stocks rebound following Friday's selloff after the UK reversed its proposed tax cuts. Better-than-expected quarterly results from Bank of America have also lifted sentiment going into the earnings season.

The 10-year U.S. Treasury yield hit an intraday lowof 3.920% Monday morning before rising to around the 3.950% level. 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.

What Happened With Inflation Data Last Week?

According todatafrom theU.S. Bureau of Labor Statistics, the headline CPI rose 8.2% in September,downfrom8.3% in August. The SeptemberCPI reading came in aboveaverage economist estimatesof 8.1%.

On a month-over-month basis, CPI was up 0.4%versus average economist estimates for a 0.2% jump…Read More

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According to data fromBenzinga Pro, Teslahas a 52-week high of $414.50 and a 52-week low of $206.22.