US Pres. Trump: I asked Musk to leave

Valeria Bednarik FXStreet

United States (US) President Donald Trump said on Truth Social on Thursday that he asked Elon Musk to leave the government, while defending the One Big Beautiful Bill:

“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts. I was always surprised that Biden didn’t do it!”

Even further, Trump declared: “Elon was “wearing thin,” I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!”

Market reaction

Tesla shares extend their intraday slump with the news, down roughly 12% on the day as an initial reaction to the headline. But things did not stop there, and TSLA is currently 16% lower, dragging alongise US indexes. The S&P 500 is down 0.50% around the 5,940 mark, while the Nasdaq 100 sheds 0.72% and stands in the 21,560 area.

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Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

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