News Summary

Tesla’s market capitalization plummeted by approximately $152 billion following a public dispute between its CEO, Elon Musk, and U.S. President Donald Trump. The spat, which unfolded on social media platforms, resulted in a 14% drop in Tesla’s stock value, marking one of the most significant single-day losses in the company’s history. Musk criticized Trump’s legislative agenda, specifically targeting provisions that threaten electric vehicle tax credits, which are crucial for Tesla. The conflict escalated as Trump responded with threats to revoke governmental subsidies and contracts vital to Musk’s ventures, including SpaceX. The market’s reaction reflects investor concerns over the potential impact on Tesla’s future operations and financial health.