Despite a significant slump in the stock market, President Donald Trump focused on supporting Elon Musk, the world’s richest man, by promoting Tesla at the White House. This came as American retirement accounts faced substantial losses due to market anxieties over trade conflicts and leadership concerns. During the event, Trump condemned protests against Tesla and endorsed Musk’s patriotism. Tesla shares rose by 3.8% following Trump’s public backing, contrasting with the Dow Jones Industrial Average’s 1.4% drop. The president’s actions raised questions about ethical standards and potential conflicts of interest. Meanwhile, market uncertainty persists due to Trump’s unpredictable policies, affecting investor confidence and economic stability.
— news from CNN
