Musk Mulls Next Move as Stocks Swing Again
April 7, 2025
29 min
Full
4,667 of 5,353
April 7, 2025
Musk Mulls Next Move as Stocks Swing Again
0:00 / 29:48
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Bloomberg Originals Episodes Around April 7, 2025
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29:48This episodeMusk Mulls Next Move as Stocks Swing Again
Summary
<p>Watch Carol and Tim LIVE every day on YouTube: <a href="http://bit.ly/3vTiACF">http://bit.ly/3vTiACF</a>.<br /><br />Tesla Inc.’s stock extended losses Monday, dropping below a price at which Commerce Secretary Howard Lutnick predicted they’d never fall to again.The shares plunged as much as 9.2% to $217.41 as of 9:41 a.m. in New York, amid a broader selloff in global equity markets. Lutnick said during a Fox News interview on March 19 — when Tesla closed at $235.86 — that viewers should buy the stock, saying “it’ll never be this cheap again.” Chief Executive Officer Elon Musk told Tesla employees the following day that they should hang on to their shares.<br /><br />Meanwhile waves of volatility shook broader markets anew, with stocks, bonds and commodities getting whipsawed by another deluge of headlines around President Donald Trump’s trade war that only reinforced the clouds hanging over the outlook for investing and the economy.<br />Traders looking for equities to snap back after a selloff of trillions of dollars were faced with a series of twists and turns on Monday. While the S&P 500 moved away from the threshold of a bear market, its bottom-to-top intraday reversal was the biggest since 2020 when Covid upended global trading. Treasuries weakened, with yields across all maturities higher by over 10 basis points — a stark turnaround from the plunge earlier in the day.<br />Today's show features:</p> <ul> <li>Dan Ives, Global Head of Technology Research at Wedbush Securities</li> <li>Bloomberg News Equities Americas Team Leader Eric Weiner</li> <li>Bloomberg News Cross-Asset Reporter Isabelle Lee</li> </ul><p>See <a href="https://omnystudio.com/listener">omnystudio.com/listener</a> for privacy information.</p>
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