Photonews Logo Photonews logo
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Azad Jammu Kashmir
    • Balochistan
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
    Gen V Season 2 trailer
    Videos

    Gen V Season 2 Trailer Cast, Plot, Premiere Details

    July 26, 2025 3 Min Read
    IShowSpeed Daniel La Belle race
    Videos

    IShowSpeed Beats Daniel La Belle in 40-Meter Race, Hits 41M Subscribers

    June 24, 2025 2 Min Read
    Cardi B new single Outside
    Videos

    Cardi B’s ‘Outside’ Single Sparks Buzz Over Offset and Stefon Diggs

    June 20, 2025 2 Min Read
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Reading: Wall Street Dips as Tesla Falls Amid Trump-Musk Feud Over Tax Bill
PhotoNews Pakistan PhotoNews Pakistan
Font ResizerAa
Search
  • Home
  • Pakistan
    • Punjab
    • Sindh
    • Khyber Pakhtunkhwa
    • Balochistan
    • Azad Jammu Kashmir
    • Gilgit – Baltistan
  • World
  • Business
  • Entertainment
  • Videos
  • Sports
  • Technology
  • Offbeat
  • Blog
  • Contact
Have an existing account? Sign In
Follow US
© 2022 Photonews. All Rights Reserved.
SpaceX invest xAI 2 billion
PhotoNews Pakistan > Business > Wall Street Dips as Tesla Falls Amid Trump-Musk Feud Over Tax Bill
BusinessTop News

Wall Street Dips as Tesla Falls Amid Trump-Musk Feud Over Tax Bill

Web Desk
By Web Desk Published July 1, 2025 3 Min Read
Share
Elon Musk and Tela's emblem. Photo Credit: Yahoo Tech
SHARE

On July 1, 2025, Wall Street retreated from record highs as Tesla shares dropped 5% amid a public feud between President Donald Trump and Elon Musk over a sweeping tax and spending bill. The legislation faces hurdles in the Senate, which could impact market sentiment.

Twenty-five minutes into trading, the Dow Jones Industrial Average rose slightly by 0.3% to 44,214.87, but the S&P 500 fell 0.1% to 6,197.55, and the Nasdaq Composite dropped 0.3% to 20,312.16. Analysts attributed the pullback to an end-of-quarter investment surge and uncertainty over Trump’s “One Big Beautiful Bill,” which proposes $4.5 trillion in tax cuts but cuts social and clean energy programs, adding $3.3 trillion to the U.S. debt.

Wall Street abrió este martes en terreno mixto. Las acciones de Tesla se vieron afectadas después de que Donald Trump sugiriera que el Departamento de Eficiencia Gubernamental debería investigar los subsidios gubernamentales concedidos a las empresas de Elon Musk.… pic.twitter.com/pjGljjaR5G

— NMás (@nmas) July 1, 2025

Trump’s threat to deport Musk and scrutinise Tesla and SpaceX subsidies via the Department of Government Efficiency (DOGE) triggered a 5% drop in Tesla shares. Musk, a former Trump ally and 2024 mega-donor, criticised the bill as “insane” on X, proposing a new “America Party.” Steve Sosnick of Interactive Brokers noted Tesla’s popularity with speculative traders, explaining that its decline dampens the broader market mood.

250,000 rides a week. 10 million total trips. 50 million miles. It’s becoming Waymo’s world—and we’re all just riding in it. 🔗 https://t.co/fCucZoZnjs pic.twitter.com/OYi55rHFJ8

— The Wall Street Journal (@WSJ) June 1, 2025

Amid the downturn, Boeing gained 0.8% after appointing Jesus “Jay” Malave as chief financial officer, previously with Lockheed Martin, and confirming Stephen Parker as head of its defence and space division. These leadership changes signal Boeing’s efforts to stabilise operations, boosting investor confidence despite the broader market’s struggles.

Read: Trump Hints at Deporting Elon Musk Amid Feud Over Tax Bill

The Trump-Musk feud over the tax bill, combined with Senate debates, creates uncertainty that impacts Wall Street and Tesla’s valuation. The bill’s potential to reshape fiscal policy and cut clean energy subsidies affects industries and investors. Boeing’s gains highlight corporate resilience, but the market’s volatility underscores broader economic and political tensions in 2025.

TAGGED:Featured
Share This Article
Facebook Twitter Pinterest Whatsapp Whatsapp LinkedIn Email Copy Link Print
Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Advertisement

HBL Saving Made Easy
HBL Saving Made Easy

Recent Posts

Pakistan Arbaeen road ban

Pakistan Bans Road Travel for Arbaeen to Iraq and Iran

Ruchi Gujjar So Long Valley fraud

Actress Ruchi Gujjar Slaps Producer at So Long Valley Premiere Over

Gilgit-Baltistan flood relief

Gilgit-Baltistan CM Seeks Rs7 Billion for Climate Disaster Relief

Post Archives

More Popular from Photonews

Canada Netflix ban 2025
Entertainment

Canadian Government Bans Netflix on Federal Networks

3 Min Read
Pakistan Steel Mills Land
Sindh

NIRC Issues Arrest Warrants for Pakistan Steel Mills CEO and Director

2 Min Read
Elon Musk Baby Grok AI 2025
TechTop News

Baby Grok Takes Over the Internet as Users Speculate About Elon Musk’s Next Move

3 Min Read
Sindh

Karachi Baldia Town Couple Welcomes Quintuplets

A couple from Baldia Town in Karachi, Adnan Sheikh and his wife, recently welcomed quintuplets—three girls…

July 23, 2025
Offbeat

UK Families Receive Wrong Remains from Air India Crash

Families in the United Kingdom are facing renewed grief after receiving the "wrong remains" of victims…

July 24, 2025
Sports

England Secures WTC Finals Hosting Rights for 2027-2031 Over BCCI

England has been awarded the hosting rights for the next three ICC World Test Championship (WTC)…

July 21, 2025
Sindh

Ghotki Police Detain Two Suspects in TikToker Samira Rajput’s Death

The Ghotki police detained Ali Rajput and Imran Rajput following the discovery of TikToker Samira Rajput's…

July 26, 2025
PhotoNews Pakistan

Always Stay Up to Date

Subscribe to our newsletter to get our newest articles instantly!

Categories

  • World
  • Pakistan
  • Punjab
  • Sindh
  • Khyber Pakhtunkhwa
  • Balochistan
  • Azad Jammu Kashmir

 

  • Top News
  • Business
  • Entertainment
  • Sports
  • Videos
  • Tech
  • Offbeat
  • Blog

© 2024 Phototnews
All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?