U.S markets are falling with the S&P 500 ending lower on Monday

Tesla and other growth stocks are also struggling with investors concerned about a Chinese economic data predicting a global slowdown and a further rise in interest rates.

China’s economic growth has slowed amidst covid lockdowns affecting consumption, industrial production and employment.

The second quarter could see China’s economy fall if this trend continues.

But coronavirus cases have decreased in recent days, raising hopes that industries may see increasing demand as the country recovers.