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Trump-Musk rift rattles Wall Street; Tesla share slide exposes market fragility; major indexes take a hit

IndiaTimes Sunday, 8 June 2025
A public feud between Trump and Musk triggered a significant drop in Tesla shares, impacting major US indexes like the S&P 500 and Nasdaq 100. Tesla's decline highlighted concerns about index concentration in large-cap stocks, particularly the 'Magnificent Seven,' and its wide market exposure through numerous ETFs, affecting funds like the Consumer Discretionary Select Sector SPDR Fund.
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News video: Trump Vs Musk: Tesla Stock Crashes 9% As Trump And Musk Clash Over 'Disgusting' Tax Bill Feud

Trump Vs Musk: Tesla Stock Crashes 9% As Trump And Musk Clash Over 'Disgusting' Tax Bill Feud 04:42

Tesla shares plunged nearly 9% Thursday after President Donald Trump lashed out at Elon Musk over his criticism of the president’s tax and spending bill. Musk, who had once been one of Trump’s closest allies and even led a cabinet-level department, called the legislation a “disgusting...

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