Tesla and SpaceX Shares Drop 5% After Democrats Win US Midterms

timesnownews.com —

Shares of Elon Musk-led Tesla and SpaceX fell over 5 percent on Wednesday after Democrats swept the US midterm elections, raising investor concerns about regulatory and political challenges for his Texas-based operations. Musk spent nearly $500 million supporting Republican candidates, the most of any donor this cycle, including $224 million in Texas, where his companies are headquartered and building a $100 billion chip plant. Democrats won both houses of Congress and key state races. Senator Edward Markey warned of subpoenas on X, while Texas elected a Democratic governor, attorney general, and lieutenant governor. Musk’s contributions represent a small fraction of his $898 billion net worth.


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