US President Donald Trump’s public feud with Tesla CEO Elon Musk has sent shockwaves through the markets, putting a strain on investments tied to companies with ties to the president. The spat, which played out live on TV during a White House press conference, saw the two leaders exchanging insults and castingigations.
The controversy centers around the tax-cutting bill currently making its way through Congress, which includes provisions that would eliminate key incentives for electric vehicles. Musk had recently campaigned against the bill, citing concerns over the impact on Tesla’s business.
As traders made bets on Trump’s ability to shape government policies in favor of his allies, including Musk, a crucial test has emerged. The stock prices of companies linked to Trump, such as Palantir, Geo Group, and Bitcoin, have slumped in response to the fallout from the spat.
The incident highlights concerns over corruption and the potential risks associated with investing in companies with ties to politicians like Trump. With markets increasingly scrutinizing such investments, traders are being forced to reassess their strategies and consider more cautious approaches.
Source: https://sherwood.news/markets/trump-trades-tank-amid-musk-bust-up-on-live-tv