Tesla's stock tumbled 8% on Tuesday, pushing its market value below $1 trillion for the first time since November after data showed the electric car maker's sales slumped in Europe in January. The European Automobile Manufacturers Association reported that Tesla sales dropped 45% in Europe,

Musk’s net worth fell almost 4% as of midday Tuesday, dropping to almost exactly $100 billion below his all-time high of $464 billion.

A quick unwind in the shares of Tesla Inc. pushed the electric-vehicle maker’s market capitalization below the coveted $1 trillion-mark on Tuesday, amid reports of a stark slowdown in car sales in Europe.