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Trump, Musk feud causes major Tesla market drop
Trump and Musk feud over electric vehicle tax credits, causing Tesla’s market value to plunge by $152.4 billion.
Trump and Musk feud over electric vehicle tax credits, causing Tesla’s market value to plunge by $152.4 billion.
Trump and Musk’s heated argument over policy led to a major rift, with Musk accusing Trump of ingratitude despite his past support. This dispute caused Tesla’s market value to plummet by $152.4 billion, highlighting shifts in political relationships and their economic implications.
President Trump and Elon Musk engaged in a heated exchange of insults on Thursday, leading to a significant rift in their relationship.
Trump accused Musk of experiencing “Trump derangement syndrome,” suggesting that Musk’s criticism of his legislative agenda stemmed from the repeal of electric-vehicle tax credits.
Musk, who invested heavily to support Trump’s election bid, retaliated by stating that Trump was ungrateful and implied that he would not be president without Musk’s backing.
This public dispute resulted in a notable decline in Tesla’s market value, which dropped by approximately $152.4 billion—the largest single-day decline recorded for the company.
Big, beautiful bill
The conflict was sparked by Musk’s vocal opposition to Trump’s proposed “one big, beautiful bill.” The legislation seeks to extend and expand tax cuts, while also allocating funds for border enforcement and the military, all of which are partially offset by cuts to Medicaid, food aid, and clean-energy tax credits.
The fallout from this exchange highlights the changing dynamics in American political relationships, particularly in the context of influential figures such as Musk and their impact on policy discussions and market behaviour.
News
Global EV shake-up: Australia slows, China surges, Lexus teases supercar
Australia’s EV market slows, sales below 100,000; Costello discusses barriers and climate goals in latest Ticker episode.
Australia’s EV market slows, sales below 100,000; Costello discusses barriers and climate goals in latest Ticker episode.
Australia’s electric vehicle market is facing a slowdown, with sales struggling to hit the 100,000 mark this year.
Mike Costello from Cox Automotive breaks down the key barriers slowing adoption and explains whether current growth is enough to meet the country’s climate goals.
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#EVNews #ElectricCars #AustraliaEV #ChinaEV #LexusLFA #Zeekr7X #SustainableTransport #EVMarket
Lando Norris secures his first F1 World Championship at Abu Dhabi, becoming Britain’s 11th World Champion with 423 points.
Lando Norris has clinched his maiden Formula 1 World Championship after an electrifying finale at the Abu Dhabi Grand Prix. In a race packed with tension, Norris held onto third place — the exact result he needed to secure the title.
His performance not only sealed his first championship but also cemented him as Britain’s 11th F1 World Champion, marking a historic moment for McLaren and the sport.
Norris closed out the season with 423 points, marking a defining milestone in his career.
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#Formula1 #F1News #LandoNorris #MaxVerstappen #OscarPiastri #AbuDhabiGP #McLarenF1 #TickerNews
News
China naval activity raises tensions from Philippines to Galápagos
Rising tensions in the South China Sea prompt expert insights on regional security and global trade implications.
Rising tensions in the South China Sea prompt expert insights on regional security and global trade implications.
Tensions in the South China Sea are rising as Chinese naval and fishing vessels are spotted near the Philippines and even as far as the Galápagos Islands. Experts warn these movements could impact regional security and international waters.
We speak with Tim Harcourt from UTS to break down the significance of these developments, including the role of Taiwan, ASEAN, and Japan in responding to Chinese maritime activity.
From potential diplomatic fallout to economic implications, this interview dives into what these naval movements mean for the future of the region and global trade.
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#ChinaNaval #SouthChinaSea #Geopolitics #Philippines #Galapagos #MaritimeTensions #InternationalRelations #TickerNews
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