Elon Musk Loses $11 Billion As Tesla Stock Plummets In Wake Of New Trump Tariffs
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Elon Musk lost $11 billion as Tesla's stock plummeted 10% following President Trump's announcement of new tariffs, including a 10% charge on imports and a 25% levy on foreign cars. Musk's net worth decline reflects the broader impact on tech stocks, with major companies like Apple, NVIDIA, and Amazon also experiencing significant drops. This event highlights the vulnerability of tech firms to political decisions and raises concerns about Tesla's future amid declining sales and political backlash against Musk.
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