Tesla shares see stark slump, wiping out nearly $150 billion

Shares of Tesla have seen a stark slump amid a public feud between President Trump and Elon Musk. At the Nasdaq exchange, Tesla’s shares wiped out nearly 150 billion dollars from its market cap, its biggest single-day loss in value ever.

The rift between the two originated 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.