Musk-Trump Feud Leads to Dramatic Stock Losses

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A public feud between Elon Musk and former President Donald Trump has significantly impacted the stock market, decreasing Tesla's market capitalization by $152 billion in just a few hours. Tensions escalated when Musk criticized Trump’s “One Big Beautiful Bill,” which aims to restrict immigration and limit green energy subsidies, and is projected to increase the U.S. deficit by $2.4 trillion. Trump responded on his platform, Truth Social, arguing Musk opposed the bill due to potential losses in electric vehicle tax credits.

As Musk's comments on the X platform spiraled into personal attacks, Tesla's stock fell by approximately 14%, marking one of its largest single-day drops in years. Concurrently, TrumpCoin's value decreased by nearly 10%. Trump's suggestion to terminate Musk’s government contracts has heightened stakes, with key allies advising investigations into Musk's immigration status.

This turmoil comes at a critical juncture for Tesla, which is set to launch its robotaxi service in Austin. The company is also grappling with disappointing quarterly results and mounting protests against its leadership, as a movement dubbed "Tesla Takedown" calls for consumer boycotts, with organizers releasing the slogan "Sell, Sell, Sell."

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