Tesla and SpaceX lose over $456 billion after midterm selloff
In short
Tesla and SpaceX shares fell sharply after the US midterm elections. The drop erased more than $456 billion from their combined market value and pushed Elon Musk’s net worth below $800 billion.
The selloff mattered because it hit two of Musk’s biggest companies at once, though the source does not fully spell out the reason for the decline.
What the reporting says
Tesla and SpaceX shares fell sharply after the US midterm elections, wiping out over $456 billion in combined market value. CNBC TV18 said Elon Musk's net worth also dropped below $800 billion as the selloff hit both companies. The report points to fears of str...
Why it matters
Tesla and SpaceX shares fell sharply after the US midterm elections, wiping out more than $456 billion in combined market cap. CNBC TV18 said Elon Musk's net worth slipped below $800 billion as the selloff spread across both companies. The source only gives a partial reason, saying fears of str... without completing the explanation, so the immediate catalyst remains unclear from the snippet.