Yields on bonds go up when when bond price goes down. You can think of it this way: Tesla bond would have to pay 8% for investors just to be on par (break even), given the current interest rate regime. Of course, bond pays the fixed rate agreed at the issuance, so if you are bondholder, your bond is now worth less, and - if you sell it now - you realize the loss. Put another way, if Tesla to issue new bonds, they have to issue them _at least_ with 8% coupon, because investors will demand premium for risk.

When your yield moves from 6 to 8% and your debt is rated junk (seven levels below investment grade) yes it is free fall.

The bond price/yield chart appears to be going parabolic in the past few days.

Bonds fall up, and rise downwards. Its a bit confusing if you aren't used to bonds, but that's the terminology.

Its because if you have $950 in bonds, and interest rates rise, then your $950 is worth less (maybe $930 now). Similarly, if interest rates fall, then your $950 is worth closer to $1000.

It sounds like you don't trade bonds.