Reported about 2 months ago
US stocks closed lower as a conflict between President Trump and Elon Musk overshadowed trade discussions with China and negative economic data. Tesla shares dropped 14.3% following Trump's threats to cut Musk's subsidies, influencing the Nasdaq's decline. Despite the downturn, crude oil prices rose, buoyed by hope in trade talks. Economic indicators revealed increase in jobless claims and a narrowing trade gap, prompting speculation on possible Federal Reserve interest rate cuts.
Source: YAHOO