Tesla shares tumble after Trump says DOGE should look at Elon Musk’s subsidies

Shares Tesla President Donald Trump was under pressure on Tuesday after he said that the federal government had to look at cut subsidies for Elon Musk companies in social media task late at night.

“Elon can take more subsidies than any person in history, can probably close the shop and return home without occasional and subsidies. More rocket launch, satellite or electric car production and our country would save a reserve. post in question.

“Doge” refers to the Ministry of Efficiency, which was led by Trump before Musk left the government’s role. End of May

Tesla’s shares fell more than 5% in marketing on Tuesday. Some other initiatives, including Musk’s SpaceX and Starlink, are largely dependent on government policy.

Trump reiterated the idea of ​​cutting subsidies while talking to journalists on Tuesday morning.

“Sadly that the home loses his duty … But he may lose more than that, I can tell you. Elon may lose much more than that.” He said.

In 2024, Musk, who campaign with Trump, led to the tax and expenditure invoice through the congress. While the bill increases the federal deficit foreseen under the current laws, it is preparing to reduce government support for green energy and electric cars.

X, Musk on Social Media Site answered Trump’s “literally cut all of the word.

Musk’s criticism of the administration for the expenditure plans of the administration seemed to be a reason for a public blood feud between two billionaires in early June, which led to a sale in Tesla’s stock. Later, tensions cool and Tesla’s shares have returned more than 11% since June 5.

However, Tesla CEO started its criticism of the tax invoice and also targeted the Republican Party. On Monday, Musk is in X ” New political party This actually cares about people. “