Tesla and SpaceX Stocks Fall as Investors Worry About Elon Musk’s Political Risk

While the US stock market surged on Wednesday, SpaceX and Tesla stocks were sliding. Democrats won both chambers of Congress and the Texas governor’s race, defeats that land squarely on Elon Musk’s companies. Musk gave at least $446 million to Republican candidates and groups before the vote. Shareholders in his two public companies now face Democratic lawmakers who are reportedly weighing probes into his businesses. Why Tesla and SpaceX Stocks Fell While Wall Street Rallied Investors welcomed the prospect of a divided government and lower Treasury yields. The S&P 500 rose 1.2% in early trading, while the Dow added more than 1,100 points, fueling a broad post-midterm stock rally . Musk’s stocks moved the other way.

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