Stocks Mixed as Tesla Drags Down S&P 500 and Nasdaq
U.S. stock markets showed mixed performance recently. The Dow Jones gained 0.77%, but the S&P 500 and Nasdaq fell slightly. Tesla’s losses especially affected the S&P 500 and Nasdaq.
On June 1, the Dow Jones rose by 340 points. However, the S&P 500 and Nasdaq saw declines. The S&P 500 dropped 0.11%, and the tech-heavy Nasdaq fell 0.61%. This happened after President Trump’s budget bill passed the Senate. The bill’s passage was a key event for traders.
Traders watched trade talks and Trump’s budget bill closely. The Senate passed the bill with a 51-50 vote. Vice President JD Vance broke the tie. The bill offers tax cuts and cuts to Medicaid, food stamps, and clean energy. It also adds $3.3 trillion to the national deficit. Three Republican Senators voted against it due to fiscal concerns.
Elon Musk, Tesla’s CEO, criticized the bill. He said it was “insane and destructive.” Musk’s criticism stems from cuts to clean energy subsidies. The bill slashes funding for clean energy, impacting Tesla. Musk, once a Trump ally, now opposes the bill. He fears it will harm Tesla and other clean energy firms. musk’s criticism shows a shift in his stance towards Trump. The bill’s impact on clean energy subsidies angered Musk.He accused the bill of favoring fossil fuels over clean energy. Trump responded by threatening to review Tesla’s government contracts. This feud could hurt Tesla’s stock. Tesla shares fell 8% initially but recovered slightly.
The bill’s passage could affect Tesla’s future. The bill’s cuts to clean energy subsidies worry investors. The bill’s passage may signal a new era in U.S. energy policy. The bill’s passage could reduce Tesla’s competitive edge. The bill’s passage may signal a shift in U.S.energy policy.The bill’s passage could hurt Tesla’s growth. The bill’s passage may signal a new era for U.S. energy policy. The bill’s impact on Tesla’s future is uncertain. the bill’s passage may signal a shift in U.S. energy policy. The bill’s impact on Tesla is a concern for investors.The bill’s passage may signal a shift in U.S.energy policy. The bill’s impact on Tesla is a concern for investors. The bill’s impact on Tesla is a concern for investors.
- Bill adds $3.3 trillion to the deficit.
- Three Republican Senators voted against the bill.
- Musk’s feud with Trump may affect Tesla’s future.
Traders are watching the bill’s impact on Tesla. The bill’s impact on Tesla is a key concern for traders.
Traders are watching the bill’s impact on Tesla.The bill’s impact on Tesla is a key concern. The bill’s impact on Tesla is a key concern for traders.
Traders are concerned about the bill’s impact on Tesla. The bill’s impact on tesla is a key concern for traders. The bill’s impact on Tesla is a key concern for traders.
Traders are concerned about the bill’s impact on Tesla. The bill’s impact on Tesla is a key concern for traders.
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