Tesla Shares Plunge as Elon Musk’s Political Role Grows More Divisive
The automaker’s shares soared after Election Day as Elon Musk took a high-profile role as a Trump adviser. Now those gains have evaporated.
It Is Happening Every Day, Every Where
The automaker’s shares soared after Election Day as Elon Musk took a high-profile role as a Trump adviser. Now those gains have evaporated.
Investors sent stock prices down on Thursday amid the uncertainty over what President Trump’s inconstancy means for the global economy.
The S&P 500 jumped about 1.2 percent on Wednesday, after two days of declines. Shares of automakers rallied.
The S&P 500 added to recent losses in early trading. German automakers, many of which have plants in Mexico that make vehicles that are sold in the United States, were especially hard hit.
German automakers, many of which have plants in Mexico that make vehicles that are sold in the United States, were especially hard hit.
The S&P 500 fell 1.8 percent on Monday after President Trump doubled down on plans to impose 25 percent tariffs on Canada and Mexico starting Tuesday.
The electric-car maker’s stock has had a bumpy ride since the victory of President Trump, who has given Tesla’s chief, Elon Musk, a role in Washington.
The TV celebrity and Trump nominee has pledged to divest from most of his financial interests. But they touch nearly every corner of health care, from insurance to blood pressure cuffs and vitamins, leading experts and lawmakers to doubt he could make impartial decisions.
The federal budget debate has big implications for the economy. Businesses are betting that tax cuts will be extended and the math will work out.
Mr. Musk, one of President Trump’s main advisers, has not outlined a plan to reverse falling sales at the electric car company of which he is chief executive.