Overview

• Musk denounced Trump’s flagship spending plan as a “disgusting abomination,” prompting Trump to threaten termination of SpaceX and Tesla government contracts
• Tesla shares plunged more than 14%, erasing about $100 billion in market value before a modest recovery on Friday
• Musk deleted his unverified tweet alleging Trump appears in Jeffrey Epstein’s files after widespread calls for evidence
• Musk’s spat with the president has put future federal contracts and subsidies for SpaceX and Tesla in jeopardy as he hints at pulling projects
• Republican lawmakers are increasingly divided by the showdown, raising doubts over unified GOP support for Trump’s legislative agenda