US EditionTesla loses $152 billion in market cap after Musk-Trump spat, biggest hit ever
- Tesla experienced its largest one-day market value drop on Thursday, losing $152 billion in a 14% share decline on Wall Street.
- The steep decline occurred amid growing tensions between Elon Musk and the U.S. President over the recent tax and budget legislation and its impact on government contracts tied to Musk’s businesses.
- Investors grew concerned that Trump's threat to cut subsidies and contracts to Musk's companies could hinder Tesla’s key driverless taxi business and SpaceX's NASA partnerships.
- Trump wrote on Truth Social that terminating Elon’s subsidies would save 'Billions and Billions of Dollars,' while Musk labeled the bill a 'disgusting abomination' on X.
- This feud generated significant market uncertainty, indicating potential impacts on Musk’s ventures and tensions in U.S. Government support for his companies.
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Trump Joins Ranks of Americans Who Can’t Unload Their Teslas, Park Service Will Close Dupont Circle Park After All, and DC’s MAGA Men Pay for Stronger Jawlines - Washingtonian
Good morning. Hot with increasing humidity today and a high around 86. Showers are possible after 2 PM. More rain possible overnight, with a low near 67. Sports this weekend: The Nationals will host the Texas Rangers all weekend. D.C. United will get a visit from the Chicago Fire Saturday. Loudoun United FC will host
·Washington, United States
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Technology managers are at the forefront of Donald Trump's economic policy. In five months, Apple's stock market value has lost $429.8 billion.
·Paris, France
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Elon Musk lost several billion dollars after the dispute with President Trump. The share of his company Tesla slipped significantly.
Coverage Details
Total News Sources373
Leaning Left71Leaning Right47Center95Last UpdatedBias Distribution45% Center
Bias Distribution
- 45% of the sources are Center
45% Center
L 33%
C 45%
R 22%
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