Tesla Shares Plunge 14% Amid Trump-Musk Clash

Tesla shares fell over 14% in a single day, wiping out about $150 billion in market value, after a public feud intensified between CEO Elon Musk and President Donald Trump. The dispute began with Musk criticizing Trump’s tax and spending bill, leading Trump to threaten the removal of federal subsidies and government contracts from Musk’s companies, including Tesla and SpaceX. This raised concerns that political tensions could jeopardize regulatory approvals vital for Tesla’s driverless vehicle plans and the broader electric vehicle market. Musk’s personal net worth dropped by over $50 billion, one of the largest single-day declines among the world's richest people. The selloff also triggered a broader downturn in tech and cryptocurrency markets, increasing risk-off sentiment. Analysts warn that continued political conflict and weak EV demand could further undermine Tesla’s stability and investor confidence.