Tesla (TSLA.US) shares dipped amid growing tensions between Elon Musk and President Trump, as Musk publicly criticized Trump’s tax and spending bill, which threatens key electric vehicle tax credits vital for Tesla’s business. Trump expressed disappointment in Musk and hinted uncertainty about their future relationship, adding to the negative sentiment around Tesla.
Meanwhile, Trump announced plans to visit China, signaling ongoing diplomatic efforts despite trade tensions. In the context of the Russia-Ukraine conflict, Trump expressed skepticism about a peace deal and relayed Putin’s justification for Russia’s actions, suggesting prolonged conflict. This situation may shift the burden of arming Ukraine more onto European defense companies, potentially impacting global defense markets.
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Tesla shares are trading lower today by almost 5.5%. The stock is currently testing the support zone marked by the 50- and 100-day exponential moving averages (blue and purple lines on the chart, respectively). Source: xStation
