Tesla Tumbles 8% as Trump-Musk Feud Over ‘Big Beautiful Bill’ Shakes Markets
In a dramatic turning point, Tesla Tumbles 8% as Trump-Musk Feud Over ‘Big Beautiful Bill’ Shakes Markets. Tesla shares plunged over 8% on Thursday, following a fiery public spat between President Donald Trump and Tesla and SpaceX CEO Elon Musk. The drop comes in the wake of Trump’s sweeping tax and spending legislation, dubbed the “Big Beautiful Bill,” which eliminates tax credits for electric vehicles (EVs)—a major blow to Musk’s flagship company.