The past 24 hours are estimated to have been the hardest day for Trump.
Firstly, it's the mutual attacks between former close friends—Musk publicly blasted President Trump, leading to a fierce war of words on social media that shook the market. Musk also linked Trump to the Epstein scandal.
Secondly, a U.S. judge blocked the Trump administration’s plan to impose visa restrictions on international students at Harvard University, causing a setback in their plans.
Thirdly, there are constant variables in tariff negotiations; however, the impact of tariffs has already become apparent. Data shows that in May, the U.S. private sector added 37,000 jobs, significantly slowing from 60,000 in April and far below the market forecast of 115,000. At the same time, tariffs have caused U.S. import volumes to hit a historical low.
The war of words between the two triggered a massive market shock, with Tesla's market value evaporating by $150 billion in a single day, setting a record for the company's history and collapsing the previously stable U.S. stock market, while Trump's media technology group fell by 8%. Ethereum dropped over 8%, and Bitcoin fell by $3,000.
At a critical moment, hedge fund mogul and CEO of Pershing Square Capital Management Bill Ackman acted as a mediator, posting that he supports Trump and also supports Musk, stating that for the benefit of our great country, they should coexist peacefully; together we are stronger than apart.
A netizen commented to make up, but don’t kiss, to which Musk responded with a laughing-crying emoji.
It seems absurd for such things to happen, but it is not coincidental. Signs began to appear when Musk left the efficiency government department; an explosion was inevitable, and with Trump's unpredictability, there might be more big news to come. Aggressive investors can try to keep up with the rhythm, while conservative investors are advised to wait and observe.
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