Connect with us

Business

US Stocks Slip as Tesla Shares Drop Amid Musk-Trump Feud

Published

on

Tesla Shares Drop Us Stock Market Updates

NEW YORK, USA — U.S. stocks are slipping on Tuesday, July 10, 2025, as Wall Street‘s momentum slows after recently reaching record highs.

The S&P 500 opened 0.3% lower, indicating a potential for its first loss in four days. As of 9:35 a.m. Eastern time, the Dow Jones Industrial Average was down by 21 points, or less than 0.1%, while the Nasdaq composite saw a decline of 0.5%.

Tesla has contributed significantly to the market downturn. Shares of the electric vehicle maker dropped by 6.9% today, making it the heaviest weight on the S&P 500. This drop comes amid escalating tensions between Tesla CEO Elon Musk and former President Donald Trump, once allies who now appear to be at odds.

Trump recently hinted that there might be substantial savings to be had by scrutinizing government spending related to Musk’s companies. As of today, Tesla shares have already fallen more than 21% for the year, primarily due to this ongoing feud.

Investors are closely watching these developments, as they could have further implications for both the stock market and the regulatory landscape surrounding Tesla.