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Trump vs. Musk: Political Clash Shakes Tesla Stocks

7/1/2025

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Summary

Story summary

President Trump fired back at Elon Musk's critique of his ambitious spending bill, hinting at possible political fallout for both figures. Musk's citizenship shields him from deportation, but the ongoing spat has rattled Tesla's stock, which plummeted over 6% as worries about Musk's political leanings and fierce competition from Chinese electric vehicles loom large.

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Story summary

President Trump fired back at Elon Musk's critique of his ambitious spending bill, hinting at possible political fallout for both figures. Musk's citizenship shields him from deportation, but the ongoing spat has rattled Tesla's stock, which plummeted over 6% as worries about Musk's political leanings and fierce competition from Chinese electric vehicles loom large.