Shares of Tesla dropped in their debut on the index Monday, pulling back from record high levels as the overall market dropped Monday over worries of a fast spreading new coronavirus strain in Britain.

Tesla's stock was among the biggest drags on the S and P, down about 5% in morning trade.

Still, on Monday, it became the most valuable company ever admitted toe, Wall Street's main benchmark.

Last Friday, Tesla's shares jumped 6% as index tracking managers rushed to add shares to their funds.

Since mid November, when Tesla's debut and S and P 500 was announced, shares have surged some 70% and so far in 2020 they have soared about 700% putting Tesla's market value at about $630 billion and making it the sixth most valuable publicly listed US company.

Tesla's Monday debut came as all 11 Major S and P sectors fell, with energy shares leading declines as crude prices slipped on concerns of waning fuel demand.