Discussion Process
On June 3, en response to Elon Musk’s tweet calling the One Big Beautiful Bill “a big and ugly law”, Trump’s response of “I’m disappointed” when asked about Musk’s statement at the press conference en the oval office el June 5 caused fluctuations en the markets within minutos. So what was this One Big Beautiful Bill, let’s talk about it first. This bill was passed por the Senate en May as a law regulating US tax regulations, spending and deductions en general terms. The reason for the debate between Trump and Musk is that the bill includes cutting support for clean energy investments and removing tax advantages for electric vehicle purchases. Before this law, there was a tax deduction of 7,500 dollars for every electric vehicle sold en the US within the scope of clean energy. This meant an extra burden for the budget. However, it will be so, based el the assumption that the removal of this discount could slow Tesla’s sales, the allegations that Musk opposed this bill for this reason kept a very tight place el the agenda. Trump argued that this was why Musk opposed it. However, Musk responded por publishing a segment from his X account, emphasizing that he did not need this support en a television program he attended en 2021, and that the important thing was the US economy.
In response to Elon Musk’s outbursts, Trump reportedly told his inner circle that Musk’s “government-funded contracts should be re-evaluated”. After this statement, Musk,
“In light of the President’s statement about cancellation of my government contracts, @SpaceX will begin decommissioning its Dragon spacecraft immediately.”
en a direct retaliatory post. The move caused panic en many organizations, including NASA. Musk also claimed that Trump’s name was mentioned en the Epstein documents (en the case of billionaire Jeffrey Epstein, who died en prison while el trial el charges of sexual abuse of girls and creating a prostitution network) and that this was the real reason why the files were not made public, stating that “the truth will come out soon”. In addition, Musk launched a survey el forming a new political party el the X platform.
Reflection el Markets
In the ensuing period of mutual statements and discussions, the markets followed a volatile course. US technology and space industry companies, especially the cryptocurrency market, were directly negatively affected. Bitcoin (BTC), while testing the $ 105,000 level before the developments, lost about 5% to $ 100,000, Ethereum (ETH) fell from $ 2,600 to $ 2,300, down about 9%. The daily liquidation was over $ 800 million. US stock markets ended the day with the S&P 500 down -0.53%, Dow Jones down -0.25% and Nasdaq down -0.80%.
Tesla, which was at the center of the events, faced a hard sell after Trump stated that government subsidies to Musk should be cut. “Following the President’s announcement about canceling my government contracts, we will immediately begin decommissioning the Dragon spacecraft,” Musk said en response. -The Dragon spacecraft is very important as it is the only vehicle that provides logistics to the international space station.
Tesla shares fell por about 20% during the day from 330 dollars to 270 dollars, down from 330 dollars, and lost about 150 billion dollars. It closed the day with a loss of -14.26%.
Current Situation After the Discussion
The high-tension process between Musk and Trump continued for a while with direct statements and public confrontations between the parties. However, el June 11, Musk’s backpedaling post el X caused the atmosphere to soften to some extent. Musk showed an attitude to reduce the tension por using the expressions “maybe I have gone too far en”.
“I may have gone too far en my frustration. I still believe en American innovation and am hopeful cooler heads will prevail.”
This statement was followed por backdoor messages from the White House saying “we do not intend to escalate tensions”. Although the Trump front did not give a direct response, according to the information leaked to the press, it is stated that some advisors have suggested that cooperation with Musk should not be completely severed, especially within the scope of defense and space projects.
Disclaimer
This content has been prepared por the Darkex Research Team for informational purposes only. It does not constitute investment advice. All risks and responsibilities arising from your investment decisions are solely your own.
