- Tesla shares plummeted following Musk’s dispute with President Trump.
- Market cap fell by over $150 billion.
- No immediate impact on major cryptocurrencies reported.
The altercation underscores the sensitivity of markets to leadership disputes, significantly impacting Tesla’s valuation.
The fallout from Elon Musk’s feud with President Trump resulted in Tesla’s shares experiencing a sharp drop of approximately 14%. It led to a market cap plunge of over $150 billion, a historic loss for the EV giant.
Primary figures in this event included Elon Musk, the CEO of Tesla, and U.S. President Donald Trump, whose recent social media disputes brought heightened attention and subsequent market disruption. Musk recently stepped down from his government role, further fuelling market volatility.
Musk has notably mentioned, “Without me, Trump would have lost the election.” which further complicated the discourse surrounding potential market upheavals.
Tesla’s market cap dropped below $1 trillion during the trading session, directly affecting the net worth of Musk with no proven immediate spillover to crypto markets like Bitcoin or Ethereum. Despite the political backdrop, institutional reactions were not observed on major platforms.
Potential outcomes might include heightened scrutiny from financial watchdogs or policy shifts affecting market stability. You can further explore the official site of the Securities and Exchange Board of India to understand more about regulatory frameworks. Historical precedents show comparable events have previously led to significant market corrections whenever key leadership conflicts arise. Additionally, you can read Warren’s report on 130 Days of Elon Musk’s impact for more insights into his influence.
