Tesla’s stock experienced its steepest single-day drop in over four years, falling 14% and erasing $153 billion in market value. The decline followed a public feud between CEO Elon Musk and President Donald Trump over proposed legislation eliminating electric vehicle (EV) tax credits. Trump threatened to cut federal contracts with Musk’s companies, intensifying investor concerns. Musk’s net worth also took a hit, dropping by $34 billion in a single day. reuters.com+1nypost.com+1nypost.comreuters.com+5businessinsider.com+5indiatimes.com+5
Key Points:
- Tesla’s market capitalization fell below $1 trillion.
- The stock has declined in four of the past five trading sessions.
- Investors are wary of potential regulatory challenges for Tesla’s autonomous vehicle initiatives.com
👉 Why this matters: The clash between Musk and Trump introduces significant political and regulatory uncertainties for Tesla, potentially impacting its growth and innovation trajectory.
SOURCE: reuters.com+1timesofindia.indiatimes.com+1
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