Tesla shares sink after deliveries fall short — and here's why Wall Street is alarmed

Elon Musk’s Tesla handed over fewer vehicles than analysts expected in the third quarter as stiff competition in China and Europe hit demand for its aging models, putting the electric-vehicle maker at risk of its first-ever decline in annual deliveries.Shares of the world’s most valuable automaker fell 5% in morning trading on Wednesday and were on track to erase nearly all their gains for the year.Growing consumer interest in hybrids over EVs, a lack of European subsidies and strong competition in China we ...