Tesla shares fell nearly 5% after Trump suggested cutting subsidies for Musk's companies, sparking tensions between the two.
Raluca Ioana Draghici
International
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Donald Trump's statements on Truth Social suggesting that Elon Musk receives too many subsidies and should shut down his business without them led to a nearly 5% drop in Tesla shares. Trump mentioned that Musk should be investigated by the Department of Government Efficiency (DOGE) for the subsidies he receives. The dispute reflects growing tensions between Trump and Musk, despite the tycoon's previous support for Trump's 2024 campaign. Musk reacted by emphasizing the need to cut the subsidies.
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