Caught in Trump-Musk crossfire: Tesla stock sinks amid feud; $380bn wiped out — among 2025’s biggest losses
[ad_1] The unlikely political marriage between US President Donald Trump and Tech billionaire Elon Musk has ended in a fiery public divorce with Tesla's shares paying the price. The fallout began after Musk openly slammed Trump’s new tax-and-spending bill on social media. In response, Trump fired back, threatening to cut off government contracts for both Tesla and SpaceX. The political clash added to Tesla's existing troubles, including slowing electric vehicle demand and Musk’s controversial ties to far-right groups. As a result, Tesla is now the worst-performing large-cap stock of the year, with its market capitalisation plunging by 29.3% to $917 billion. The company, which ranked eighth globally in market value at the start of 2025, has now slipped to the tenth spot, as per Reuters report.Tesla's shares had initially surged 29% the week Trump won the 2024 election, fueled by […]