Companies owned by Elon Musk faced a sharp drop in premarket trading on Wall Street. Tesla shares were down 5%, while Musk’s space and technology conglomerate fell 6.9%, according to ANSA.
The declines came after Democrats won both the Texas governor’s race and the state’s vacant Senate seat. Texas is home to both companies. Musk was described by ANSA as the Republican Party’s largest election donor and a strong supporter of President Donald Trump.
Sources: ANSA Economia.