Trump's Midterm Defeat Hits Musk's Companies Hard

blick.ch (German) —

Donald Trump's defeat in the US midterm elections is costing Elon Musk dearly, as his companies' stocks plunge despite a broader market recovery. After an initial shock, US stock markets turned positive, with the Dow Jones up 2 percent and the S&P 500 gaining 1.1 percent. However, Tesla and SpaceX shares each fell about 5 percent, making Musk the biggest loser among tech giants. Musk was the largest Republican donor this cycle, spending heavily in Texas, where Democrats won the governorship for the first time in over 30 years. The new Democratic majority in Congress could now launch investigations into SpaceX contracts and Tesla safety.


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