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.

Electric vehicle manufacturer Tesla has for some time now been one of the standout names in both American industry and American stock market favourites, but - for the moment, at least - it seems the party is being cut short.