The article discusses the recent significant decline in the stock market, noting the Dow's drop of nearly 900 points in a single week. It reflects on the ramifications for those who voted for Donald Trump, hoping for regulatory rollbacks and profit increases. The piece highlights Elon Musk's personal financial losses, attributed partly to growing backlash against his persona and brand, affecting Tesla's sales. The author suggests investors should remain calm, pointing out that the market has historically recovered from downturns, while also touching on cultural aspects surrounding celebrity appearances.
The backlash against Musk has been growing in recent weeks, driving down Tesla sales, with the car's dealerships and drivers becoming targets.
Unlike the overall market losses, Musk's losses were at least in part caused by personal animus.
For anyone with a pension, college savings or other assets in the US market this was an unrelaxing week, during which the Dow fell by almost 900 points.
Best not to look, in my view. Don't look, don't sell, hold your nerve on the assumption it'll be fine in 10 years' time.
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