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Dow Rises, Tesla Drops After Musk-Trump Feud

The Dow Jones sees a slight rise as U.S.-China trade tensions ease, while Tesla’s stock drops after a public dispute between CEO Elon Musk and President Trump.

Jordan Avery by Jordan Avery
June 5, 2025
in Featured, News
Reading Time: 4 mins read
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U.S. stock markets are showing signs of recovery after some good news about U.S.-China trade relations. On Thursday, the Dow Jones Industrial Average rose by 60 points, or 0.15%. The S&P 500 also saw a small increase, gaining 0.02%, while the tech-heavy Nasdaq inched up just 0.01%. While markets are bouncing back, the overall situation remains uncertain, and traders are closely watching the latest news.

A big reason for the market’s positive movement was news about the trade relationship between the U.S. and China. U.S. President Donald Trump and Chinese President Xi Jinping recently had a “very good phone call,” according to a post on social media by Trump. The two leaders discussed and resolved some disagreements, particularly over rare earth minerals, which are important for trade. Trump also mentioned that the two countries plan to continue their trade talks in person soon.

This is good news for global markets because the U.S. and China are the two biggest trading partners in the world. When their relationship improves, it has a big impact on both economies. So, news like this can help lift stock prices in the U.S. and elsewhere. Even though the news was positive, markets are still quite volatile, and traders are waiting to see if this progress will continue.

Tesla Down After Musk’s Break with Trump

While some stocks went up, others, like Tesla, took a big hit on Thursday. Tesla’s stock dropped by 7.89% after a public argument between CEO Elon Musk and President Trump. Musk, who was once an advisor to Trump, criticized the president’s latest budget plan. Musk’s comments were harsh, and Trump didn’t take them well. Trump responded with “deep disappointment,” saying that Musk should have known the details of the budget before making his criticism public.

I’m sorry, but I just can’t stand it anymore.

This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.

Shame on those who voted for it: you know you did wrong. You know it.

— Elon Musk (@elonmusk) June 3, 2025

Before this, Tesla had enjoyed a strong connection with the White House. Many investors thought that Musk’s relationship with Trump would help Tesla get favorable policies, funding, and regulatory advantages. This helped Tesla’s stock price soar after Trump’s election win. But now, the relationship between Musk and Trump has soured, and many investors are concerned about what that means for Tesla’s future.

Since its all-time high (ATH) of $479.86 per share in December, Tesla’s stock price has dropped significantly. It is now sitting at $303.99, showing how much the company has lost in value since the peak. Musk, who had donated millions to Trump’s campaign, was an important ally for the President. He even headed the Department of Government Efficiency until he stepped down on May 28. Now, Tesla’s future seems less certain as Musk and Trump are no longer on good terms.

Impact on the Stock Market and Global Economy

These developments highlight the ongoing volatility in the stock market and how political tensions can have a real impact on business. While the U.S.-China trade news gave markets a boost, the issues with Musk and Trump show how quickly things can change. Stock prices, especially for companies like Tesla, can be influenced by personal relationships and political decisions.

Investors are keeping a close eye on these situations, as they can affect the overall economy. With the trade talks between the U.S. and China moving forward, there is hope for stability. However, the fallout between Musk and Trump has raised questions about Tesla’s future growth and how much influence the company will have in Washington going forward

Tags: crypto newsDow Joneselon muskFinancial NewsMarket volatilityNasdaqS&P 500stock marketTeslaTesla StockTrumpU.S.-China Trade
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