Tesla Shares Drop as 2026 Capex Guidance Cuts and Battery Constraints Hit Production

Tesla shares slid heavily, dropping 5.2% in premarket trading after the automaker lowered its 2026 capital expenditure guidance to $20 billion from $25 billion. The revision followed Tesla's quarterly corporate update, which revealed that severe battery availability constraints are impeding automotive production. The announcement compounded broader market weakness driven by surging energy prices and geopolitical risks, weighing heavily on technology equities and equity index futures, including a 1.6% drop in Invesco QQQ Trust and a 1.5% drop in Nasdaq-100 futures ahead of Wall Street opening lower.