Musk-Trump Wahala Over EV Tax Credits Dey Cause Market Wahala for Tesla and Crypto Sector
Drama don dey bween Elon Musk and former President Donald Trump as White House don talk say Musk fit represent him company for middle of some strong policy wahala. Musk comot from him government advisory job and gree say im no like Trump 'big, beautiful bill' wey wan kill the $7,500 federal tax credit for electric vehicles (EVs). JPMorgan tins say if dem remove this tax credit, Tesla fit lose $1.2 billion yearly profit plus even more from emissions credit sales wey no go happen again. White House still make the fight hotter by cancel NASA nomination of Jared Isaacman, wey be Musk padi, as dem dey try reduce SpaceX power. Social media show say Musk dey try keep him business advantage and political influence na why e dey fight the bill. The whole palava don shake Tesla shares well well, and e con affect other things like Dogecoin (DOGE) wey fall 10%. For crypto traders, this big fight and changing policy don make market shakey and people no too sure about digital assets wey get connection with Musk or EV/clean tech sectors.
Bearish
Di Musk and Trump quarrel about electric vehicle tax credits and less help for clean tech don cause gbe gbe market for Tesla shares and many crypto wey relate to Musk, like Dogecoin. Tesla dey face heavy financial wahala and political gbege, and bad mind don affect those crypto assets — DOGE drop 10% as people hear the news. Dem cancel top appointments and threat to better industry incentives add wahala and pressure for short term across the market. For the past, similar government policies wey cause selloff usually dey make digital assets wey relate to the affected companies or people dey weak. Even though the long-term effect fit reduce if government regulation clear well, the now outlook no sweet for DOGE and the other crypto wey get connection with Musk, cos traders dey factor in regulatory wahala and company specific risks.