Tesla shares plunge as Musk feuds with Trump

Shares in Elon Musk's electric car company Tesla plunged 15% after Donald Trump threatened to terminate government contracts and subsidies given to Musk's companies. The rapid escalation in a feud between the two men comes just days after Musk left his government job with a golden key handed by the president. Plus, a landmark trial opens in Paris against TotalEnergies, accused of "greenwashing" its fossil fuel activities. 
Tesla investors were rattled on Thursday by escalating tension between Elon Musk and President Trump, and the company’s stock plunged, wiping billions off the company’s market value. The sharp fall in Tesla's share price came after a public disagreement between Tesla CEO Elon Musk and US President Donald Trump. The company’s market capitalisation fell below the $1 trillion mark and ended the day at $916 billion, its biggest single-day loss in value ever.The dispute began after President Trump threatened to cancel government contracts linked to Musk’s businesses. He made the remarks in response to Musk’s criticism of the government’s spending bill. Trump said Musk had become difficult to deal with and accused him of overreacting.
The tax credit repeal would hurt Tesla, which is the largest seller of electric vehicles in the United States. It could amount to a $1.2 billion hit to Tesla’s annual profit, according to JPMorgan analysts. Tesla shares had seen a 22% rise in May, even though the company reported weak sales numbers.