The billionaire Elon Musk explains how Doge helps the government to master things on “Kudlow”.
Tesla’s shares plunged on Monday with its highest decrease of one day in several years in the middle of a large market sale in the midst of concerns concerning a potential recession and uncertainty on the president Donald Trump tariff plans.
Tesla’s shares decreased by 15.4% during the Monday negotiation session as part of the weakness of the electric vehicle industry (EV). It was the greatest drop in percentage of a day since September 2020, when it fell by more than 21% in a single day.
In 2025 so far, Tesla stock is down 41.4% since the start of the year, including a drop by more than 36.6% in the last month. Since Tesla reached its greatest market capitalization of $ 1.5 billion on December 17, its shares fell more than half to a new market capitalization of $ 696 billion on March 10.
UBS has reduced its forecasts for deliveries of the first quarter, which contributed to the sale, as well as wider concerns concerning the American economy faced with a recession and an extended trade war in the midst of Trump’s tariff threats. The industrial average of Dow Jones dropped by 890.01 points, or 2.08%, while the Nasdaq Composite and S&P 500 slipped 4%and 2.69%respectively.
Actions come across the fears of the recession, Trump’s pricing uncertainty
| Teleprinter | Security | Last | Change | Change % |
|---|---|---|---|---|
| Tsla | Tesla inc. | 222.15 | -40.52 |
-15.43% |
Tesla’s slide comes as CEO Elon Musk assumed an important advisory role with the Trump administration as a de facto chief of the Ministry of Effectiveness of the Government, which, according to criticism, is a distraction of its role at the bar of Tesla.
Musk is also the CEO of Aerospace company spacexXAI artificial intelligence startup and a prolific poster on X, the social media platform it has.
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Tesla CEO Elon Musk has focused strongly on his role in the Trump administration in recent months. (Reuters / Mike Blake / File)
In the past year, Musk has praised Tesla’s pivot to Robotaxie far from mass production production of a “model 2” vehicle with a lower price, about $ 25,000 for consumers. He is currently aiming to have Autonomous robotaxis Operating in Austin, Texas, by June with a wider launch of driver -free vehicles by the end of the year.
The pivot of its Robotaxi plans contributed to stimulating a 71% increase in the company’s actions in its hollow in 2024 in April in the November election, even if its sales of electric vehicles blocked and the profits have decreased.
Tesla’s stock more than doubled in the weeks that followed the Trump election, which Musk helped by spending more than $ 250 million. The stock usually fell since Trump took office on January 20.
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(Justin Sullivan / Getty Images / File)
The automaker also faces opposite winds of Trump administration Politicians as a White House are opposed to the type of tax credits and EV grants that have been offered by the Biden administration and helped make the EV more affordable for consumers. Musk rejected the impact of lost subsidies on Tesla, saying that change will harm his rivals more.
Regarding the broader economic concerns of the market, Trump refused on Sunday to explicitly exclude a complete recession for the American economy, telling Maria Bartiromo in a “Sunday morning future“Exclusive interview that the country will see a” transition period “while its policies take effect.
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“I hate to predict things like that,” said Trump about a recession. “There is a period of transition because what we do is very great. We bring the richness in America. It is a great thing … It takes a little time, but I think it should be great for us.”
Matt Kazin and Fox Business Reuters contributed to this report.
