CSFX Market News | Global Market Update

  Electrek reported Thursday, citing people familiar with the matter, that Tesla (NASDAQTSLA) told workers they anticipate losing the full$,500 civil duty credit on their cheapest electric auto, the Model 3 Standard range. The communication to workers appears to have been done to prepare buyers of those vehicles, as the access to the full credit could change if delivery is done on April 1 rather than March 31 – pending sanctioned guidance. For the last three months, eligible buyers in the US could get the duty credit on all Tesla Model 3 and Model Y vehicles. still, the EV maker expects the IRS to release battery force guidance any day now. Once that happens, the company expects to lose the full credit on the Model 3 Standard Range, as their batteries are supplied from China. When the new duty credit program was blazoned, it included conditions for at least 40 of the value of the critical minerals in the battery having been uprooted or reused in the United States or a country with a U.

  On Tuesday, major US stock indices such as the Nasdaq Composite, Dow Jones, and S&P 500 declined due to renewed concerns about the Fed’s potential interest rate hikes and banking crises. However, Treasury yields and gold prices increased, as the US dollar weakened. In contrast, Asian markets rose on Wednesday, buoyed by a rally in Alibaba’s stock and reduced fears of banking contagion. While South Korea’s KOSPI and China’s Shanghai Composite slipped slightly, Japan’s Nikkei 225 and Australia’s ASX 200 climbed modestly. Meanwhile, oil prices increased due to disruptions in Kurdish crude shipments and a potential draw in US inventories, as well as improved sentiment towards the banking sector. Brent crude rose to $78.3/barrel, while WTI Futures increased by 0.5% to $73.57 a barrel. Natural Gas Futures, however, fell by 0.14%. US stock futures were trading slightly higher during Tuesday’s evening deals after major benchmark indices closed negatively due to the decline in technology