U.S. equities fell at midday as the market awaited word from the Trump administration about new tariffs. The Dow Jones Industrial Average, S&P 500, and Nasdaq all declined.
Elon Musk is diving back into US politics, and Tesla investors are not happy about it. Tesla's stock price plunged on Monday after the billionaire said he would form a new political party.
Tesla (TSLA -7.27%) stock is moving lower in Monday's trading due to a combination of bearish factors. The company's share price was down 7.1% as of 11:30 a.m.
Elon Musk, the billionaire chief executive of Tesla Inc (NASDAQ: TSLA) has officially launched a new political movement – the America Party – in a dramatic shift that's rattling investors and reigniting tensions with President Donald Trump.
Tesla's stock dropped following CEO Elon Musk's announcement that he is forming the "America Party," reigniting political tensions weighing on investors.
Tesla stock price has remained on edge this month as concerns about the company have continued. The TSLA share price was trading at $315 on Thursday last week, down 14% from its highest point in June and 35% from its highest point this year.
Tesla shares dropped sharply in early trading on Monday following CEO Elon Musk's announcement over the weekend that he plans to form a new political party. The TSLA stock was down over 8% reflecting investor concerns about the potential implications of Musk's renewed political involvement.
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