Trump’s Social Media Post Sparks Concerns Over Tesla and EV Market

President Trump has posted a new announcement on Truth Social, the social media platform. He wrote:

“Elon was “wearing thin,” I asked him to leave, I took away his EV Mandate that forced everyone to buy Electric Cars that nobody else wanted (that he knew for months I was going to do!), and he just went CRAZY!”

How Will Trump’s Statement Affect the Stock Market?

This latest post has the potential to affect the stock market. That’s because Donald Trump’s statement could potentially create volatility in Tesla Motors’ stock as investors react to the claim of an EV mandate removal, which might be perceived as a regulatory risk. The Vanguard Consumer Discretionary ETF and Consumer Discretionary Select Sector SPDR Fund could also experience fluctuations, as Tesla is a significant component of these funds, and any negative sentiment towards Tesla might impact their performance. Additionally, the broader market could interpret this as a signal of potential policy changes affecting the electric vehicle industry, influencing investor sentiment and trading behavior.

Here are some of the stocks that might be affected:
Tesla Motors ((TSLA)),
Vanguard Consumer Discretionary ETF ((VCR)),
Consumer Discretionary Select Sector SPDR Fund ((XLY)).