Dow Jones Soars 300 Points After Senate Greenlights Trump’s Budget—While Tesla Tanks 8%

Markets roar as political machinery grinds forward—meanwhile, Elon's empire stumbles.

Wall Street's adrenaline rush

The Dow Jones Industrial Average shot up 300 points after the Senate passed Trump's budget, proving once again that political certainty—however temporary—is the market's favorite drug. Traders celebrated with the unhinged enthusiasm of day-drinkers at a yacht party.

Tesla's gravity check

In a delicious contrast, Tesla shares nosedived 8% as reality bit harder than a Cybertruck's panel gaps. The selloff triggered the usual chorus of 'buy the dip' tweets from crypto bros who've never read a 10-Q report.

Bonus jab: Nothing fuels economic optimism quite like watching politicians play Monopoly with real money—especially when the 'Free Parking' pot is $4.7 trillion deep.

Musk reignites feud with Trump

At the same time, the bill’s cuts to clean energy and tax breaks to the fossil fuel industry brought the ire of tech billionaire Elon Musk. Musk, a former TRUMP ally, reignited his feud with the President, calling the bill “utterly insane and destructive.”

Notably, Musk was a major beneficiary of the U.S. subsidies to clean energy, especially to electric vehicles like those produced by his company, Tesla. In response to the criticism, Trump threatened to look into Musk’s lucrative contracts with the U.S. government, including those related to SpaceX, another of his firms.

At this point, traders seem to believe that Trump has all the cards, and some traders are concerned that the President can do significant damage to Tesla’s business. On market open, shares of Tesla fell almost 8%, from $320 to $295, subsequently recovering to $303.