Shares of Elon Musk’s electric vehicle maker fell sharply Thursday as investors feared his dispute with President Donald Trump will hurt the company.
Tesla plunged closed down more than 14 percent as a disagreement over the US president’s budget bill turned nasty. After Musk said that Trump wouldn’t haven’t gotten elected without his help, Trump implied that he may turn the federal government against his companies, including Tesla and SpaceX.
“The easiest way to save money in our Budget, Billions and Billions of Dollars, is to terminate Elon’s Governmental Subsidies and Contracts,” Trump wrote on his social messaging service Truth Social. “I was always surprised that Biden didn’t do it!”
The drop on Thursday wiped out nearly $150 billion from Tesla’s market value, partially reversing a big runup in the eight weeks since Musk confirmed that Tesla would testing an autonomous, driverless “robotaxi” service in Austin, Texas, this month.
Investors fear Trump might not be in such a rush to usher in a future of self-driving cars in the US, and that could slam Tesla because so much of its future business depends on that.
“There is a fear that Trump is not going to play Mr. Nice Guy when in come to autonomous,” said Wedbush Securities analyst Dan Ives. “The whole goal of robotaxis is to have them 20 or 25 cities next year. If you start to heighten the regulatory environment, that could delay that path.”
Trump’s threat to cut government contracts seem targeted more to another of Musk’s businesses, SpaceX, his privately held rocket company that received billions of dollars to send astronauts and cargo to the International Space Station, provide launches and do other work for NASA. The company is currently racing to develop a mega rocket for the space agency to sent astronauts to moon next year.
A subsidiary of SpaceX, the satellite Internet company Starlink, appears to also have benefited from Musk’s once-close relationship with the president.
On a trip with Trump to the Middle East last month, Musk announced that Saudi Arabia had approved his satellite service for aviation and maritime use. Though its not clear how much politics has played a role, a string of other recent deals for the company in Bangladesh, Pakistan, India and elsewhere has come as Trump has threatened tariffs and sent diplomats scrambling to please the president.
One measure of SpaceX’s success: A private financing round followed by a private sale of shares recently reportedly valued it at $350 billion, up from an estimated $210 billion just a year ago. Tesla shares initially got a lift from his support of Trump. In the weeks after Trump was elected, Tesla shares soared, hitting an all-time high on Dec. 17. But they gave back those gains during Musk’s time as head of a government cost-cutting group as Tesla’s reputation took a hit. They’ve recently popped higher again after Musk vowed to focus much more on Tesla and its upcoming launch of driverless taxis.
Tesla stock plunges as Musk’s feud with Trump over GOP tax bill spooks investors
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Tesla stock plunges as Musk’s feud with Trump over GOP tax bill spooks investors
- The drop on Thursday wiped out nearly $150 billion from Tesla’s market value
Ukraine to give revised peace plans to US as Kyiv readies for more talks with its coalition partners
Ukraine to give revised peace plans to US as Kyiv readies for more talks with its coalition partners
- Ukraine’s European allies are backing Zelensky’s effort to ensure that any settlement is fair and deters future Russian attacks.
- The French government said Ukraine’s allies — dubbed the “Coalition of the Willing” — will discuss the negotiations Thursday by video
KYIV: Ukraine is expected to hand its latest peace proposals to US negotiators Wednesday, President Volodymyr Zelensky said, a day ahead of his urgent talks with leaders and officials from about 30 other countries supporting Kyiv’s effort to end the war with Russia on acceptable terms.
As tension builds around US President Donald Trump’s push for a settlement and calls for an election in Ukraine, Zelensky said his country would be ready for such a vote within three months if partners can guarantee safe balloting during wartime and if its electoral law can be altered.
Washington’s goal of a swift compromise to stop the fighting that followed Russia’s all-out invasion in February 2022 is reducing Kyiv’s room for maneuvering. Zelensky is walking a tightrope between defending Ukrainian interests and showing Trump he is willing to make some compromises.
Ukraine’s European allies are backing Zelensky’s effort to ensure that any settlement is fair and deters future Russian attacks.
The French government said Ukraine’s allies — dubbed the “Coalition of the Willing” — will discuss the negotiations Thursday by video. Zelensky said it would include those countries’ leaders.
“We need to bring together 30 colleagues very quickly. And it’s not easy, but nevertheless we will do it,” he said late Tuesday.
Zelensky’s openness to an election was a response to comments by Trump in which he questioned Ukraine’s democracy and suggested the Ukrainian leader was using the war as an excuse not to stand before voters. Those comments echo similar remarks often made by Russian President Vladimir Putin.
Zelensky told reporters late Tuesday he is “ready” for an election but would need help from the US and possibly Europe to ensure its security. He suggested Ukraine could be ready to hold balloting in 60 to 90 days if that proviso is met.
“To hold elections, two issues must be addressed: primarily, security — how to conduct them, how to do it under strikes, under missile attacks; and a question regarding our military — how they would vote,” Zelensky said.
“And the second issue is the legislative framework required to ensure the legitimacy of elections,” he said.
Previously, Zelensky had pointed out that a ballot can’t legally take place while martial law — imposed due to Russia’s invasion — is in place. He has also asked how a vote could happen when civilian areas of Ukraine are being bombarded by Russia and almost 20 percent of the country is under Moscow’s occupation.
Zelensky said he has asked lawmakers from his party to draw up legislative proposals allowing for an election while Ukraine is under martial law.
Ukrainians have on the whole supported Zelensky’s arguments, and have not clamored for an election. Under the law that is in force, Zelensky’s rule is legitimate.
Putin has repeatedly complained that Zelensky can’t legitimately negotiate a peace settlement because his five-year term that began in 2019 has expired.
US seeks closer ties with Russia
A new US national security strategy released Dec. 5 made it clear that Trump wants to improve Washington’s relationship with Moscow and “reestablish strategic stability with Russia.”
The document also portrays European allies as weak.
Russian Foreign Minister Sergey Lavrov praised Trump’s role in the Ukraine peace effort, saying in a speech to the upper house of parliament that Moscow appreciates his “commitment to dialogue.” Trump, Lavrov said, is “the only Western leader” who shows “an understanding of the reasons that made war in Ukraine inevitable.”
Trump’s peace efforts have run into sharply conflicting demands from Moscow and Kyiv.
The initial US proposal was heavily slanted toward Russia’s demands. To counter that, Zelensky has turned to his European supporters.
Zelensky met this week with the leaders of Britain, Germany and France in London, the heads of NATO and the European Union in Brussels, and then to Rome to meet the Italian premier and Pope Leo XIV.
Zelensky said three documents were being discussed with American and European partners — a 20-point framework document that is constantly changing, a document on security guarantees, and a document about Ukraine’s recovery.
Military aid for Ukraine declines
Europe’s support is uneven, however, and that has meant a decrease in military aid since the Trump administration this year cut off supplies to Kyiv unless they were paid for by other NATO countries.
Foreign military help for Ukraine fell sharply over the summer, and that trend continued through September and October, a German body that tracks international help for Ukraine said Wednesday.
Average annual aid, mostly provided by the US and Europe, was about 41.6 euros billion ($48.4 billion) between 2022–24. But so far this year Ukraine has received just 32.5 billion euros ($37.8 billion), the Kiel Institute said.
“If this slower pace continues in the remaining months (of the year), 2025 will become the year with the lowest level of new aid allocations” since the war began, it said.
This year, Denmark, Finland, Norway and Sweden have substantially increased their help for Ukraine, while Germany nearly tripled its average monthly allocations and France and the UK both more than doubled their contributions, the Kiel Institute said.
On the other hand, it said, Spain recorded no new military aid for Kyiv in 2025 while Italy reduced its low contributions by 15 percent compared with 2022–2024.










