President Trump responded to Elon Musk's critique of his budget policy by threatening to terminate government contracts awarded to Tesla and SpaceX. Musk labeled Trump's "big, beautiful bill" as "utterly insane and destructive," expressing concerns over its potential impact on the federal budget deficit. The Vanguard S&P 500 ETF set a record high on Monday but saw a pre-market decline of 0.3%. Analysts have reacted to this political turmoil, influencing market perceptions, particularly concerning high-profile companies like Tesla, which experienced a notable drop in stock value.
President Trump threatened to cancel government contracts awarded to Tesla and SpaceX in response to criticism from Elon Musk about the federal budget deficit.
The Vanguard S&P 500 ETF set a second all-time high but is trading lower pre-market, amidst political turmoil and looming investor uncertainty.
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