Tesla (TSLA)

Tesla stock declined in premarket trade on Tuesday, having dropped 3.3% in the previous session, despite news that its energy storage gigafactory in Shanghai has started trial production, with mass production expected early next year.

The drop tracks a broader tech rout, which has hit the market amid concerns about the pace of Federal Reserve interest rate cuts in 2025.

Meanwhile, the electric car maker’s stock continues to be closely tied to the actions and statements of its billionaire founder Elon Musk.

Musk, who has been embroiled in a series of controversial remarks recently, claimed that he would "go to war" with the MAGA movement over skilled migrant visas. He also vowed to kick out any "hateful, unrepentant racists," marking the latest in a series of provocative statements.

Stocks: Create your watchlist and portfolio

His most recent outburst was in response to criticism of the H-1B visa programme, which allows US companies to hire skilled foreign workers. "Take a big step back," Musk said, as he launched an attack on critics of the programme.

The world's richest man, who himself came to the US from South Africa on an H-1B visa, defended the programme as vital to America’s success. "The reason I'm in America along with so many critical people who built SpaceX, Tesla and hundreds of other companies that made America strong is because of H-1B," Musk wrote on X.

Still, the stock has jumped around 68% for the year-to-date.

Sangamo Therapeutics (SGMO)

Sangamo Therapeutics dropped almost 50% in premarket trade on Tuesday in the US, following news that pharma giant Pfizer (PFE) is ending a partnership with the drug developer to make a new gene therapy to treat haemophilia A.

Sangamo said it is assessing "all options" to continue making the drug.

The move by Pfizer comes despite the fact the drug had met its goals in a late-stage trial. The company was planning to file for US and European approval early next year.

Bitcoin (BTC-USD)

Bitcoin ticked cautiously higher on the final day of the year, after a rollercoaster year which saw it smash through previous all-time highs.

The largest digital asset by market cap was trading at around $93,800 by mid-morning in London on a subdued day in markets.

Over the last month, the asset has been volatile — heading to all-time highs past the $106,000 mark, as markets anticipate US president-elect Donald Trump's incoming pro-crypto cast of advisers.

Read more: FTSE 100 LIVE: Markets lower on last trading day of the year