Financial markets experienced severe turmoil due to a public feud between former U.S. President Donald Trump and the CEO of Tesla. Both parties exchanged accusations publicly, leading to a significant decline in Tesla's stock by 33% since Inauguration Day, due to fears of losing contracts and federal subsidies. The cryptocurrency sector was also affected by a wave of risk aversion in the market. Tensions escalated after Musk supported calls for Trump's impeachment and proposed the idea of launching a new political movement, as well as electric vehicles.
