Tesla stock drops 15%, losing $16 billion value

Tesla's stock dropped 15% on Monday, losing $16 billion in value, making it the worst-performing stock in the S&P 500 this year. This decline was part of a broader market sell-off linked to concerns over President Trump's trade policies. Elon Musk responded to the losses in a Fox Business interview, downplaying the situation and referencing Monty Python. He also discussed the Department of Government Efficiency's efforts to cut government spending, claiming transparency in their actions. The market turmoil follows Trump's acknowledgment of economic volatility due to his policies. He recently imposed and then temporarily rolled back tariffs on Mexico, Canada, and China, which contributed to market instability.