- Tesla's stock has plummeted nearly 15 per cent amid a public feud between Elon Musk and Donald Trump, triggered by Musk's criticism of the GOP's tax-and-spending bill.
- The stock plunge wiped out an estimated $152 billion from Tesla’s market capitalization, its largest daily drop in years.
- Musk earlier slammed the bill as a “disgusting abomination” due to its potential impact on clean energy incentives like the $7,500 electric vehicle tax credit, which is crucial for Tesla's growth.
- Trump expressed disappointment, claiming Musk was well-informed about the bill's details and only raised concerns upon learning about potential cuts to the EV mandate.
- Musk has claimed he was the reason Trump won in 2024 and alleged Trump's involvement in the Epstein files, escalating the conflict.
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