Tesla shares drop after embarrassing memo leaks

Shares dropped almost 5% after the automaker was reported to have asked US suppliers for refunds, unnerving some investors

Tesla took another financial hit on Monday, with shares in the company dropping almost 5% after the electric automaker was reported to have asked some US suppliers to return payments to the money-losing company.

The disclosure was contained in a memo sent last week by a global supply manager and obtained by the Wall Street Journal. In it, the manager described the payments as essential to Tesla's operation.