Musk vs. Trump? Tesla stock tanks as tensions escalate

Core Points - Tesla shares experienced a decline of 2.6% in pre-market trading and up to 5% during the opening hour, attributed to tensions between CEO Elon Musk and President Trump [1] - The stock price fell to a low of $313.50, contributing to a total decrease of $37.20, or 10.47%, over the past five days [1] - Musk's opposition to Trump's proposal to eliminate the $7,500 federal electric vehicle tax credit poses a threat to Tesla and other EV manufacturers, as this incentive has been crucial for EV sales [2] Sales Performance - Tesla is facing challenges with declining foreign sales, particularly in China and Europe, which could exacerbate the company's difficulties [3] - Despite downturns in Europe and China, Tesla reported modest sales gains in Australia and Norway, with expectations for a rebound in U.K. sales in June [4] - Year-to-date, Tesla shares are down 17.21%, reflecting broader concerns about global EV demand [4]