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Wall Street Calls Trump-Musk Feud ‘Disaster’ for Tesla Stock | The Opening Trade 06/06
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June 6, 2025
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1:35:28Now PlayingTesla Inc.’s stock plummeted 14% on Thursday after a rift over President Donald Trump’s proposed tax legislation exploded into an all-out public feud with the president threatening to end government contracts and subsidies for Tesla and Elon Musk’s Space Ex. The rout shed $153 billion from Tesla’s market value, the biggest one-day drop on record, while yielding short sellers $4 billion in gains, according to data from S3 Partners.
Trump on Thursday said he was “very disappointed” by the Tesla chief executive officer’s criticism of the president’s signature tax policy bill. Musk fired back in several social media posts, saying in one that “without me, Trump would have lost the election.”
The Opening Trade has everything you need to know as markets open across Europe. With analysis you won't find anywhere else, we break down the biggest stories of the day and speak to top guests who have skin in the game. Hosted by Guy Johnson and Lizzy Burden.
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