The S&P 500 officially joined the Nasdaq Composite in correction territory on Thursday by cementing a close at least 10% below its prior peak level. Stocks remain under pressure as President Trump kept up his freewheeling style on negotiating with major U.

Tesla is worth around half of what it was three months ago, but it is still no bargain. As of Wednesday’s close, Tesla’s stock was trading at 89 times this year’s projected earnings. That's more than