Tesla loses $152 billion in market cap after Musk-Trump spat, biggest hit ever
Publishing timestamp: 2025-06-05 14:34:33
Summary
Tesla shares fell 14% as President Trump threatened to pull government contracts for Elon Musk's companies, leading to a $152 billion drop in market value. Musk and Trump engaged in a war of words over a spending bill, with Musk criticizing the bill and Trump expressing surprise at Musk's reaction. Musk also faced challenges with Tesla's declining sales in Europe and reputation issues in the West, as well as tensions with the Trump administration over various issues.
Sentiment: NEGATIVE
Tickers: TSLA,
Keywords: breaking news: business, climate, tesla inc, breaking news: markets, donald trump, government budgets, markets, breaking news: politics, politics, technology, legislation, autos, breaking news: technology, business news, congress, donald j. trump,
Source: https://www.cnbc.com/2025/06/05/tesla-shares-musk-trump.html