Tesla stock sunk as much as 8% after President Donald Trump fired a new shot at Elon Musk. Trump said Musk had government subsidies than "any human being in history" in a post on Truth Social. The pair's feud was reignited by more criticism from Musk over Trump's tax bill.

The feud reignited on Monday when Musk, who spent hundreds of millions on Trump's re-election, renewed his criticism of Trump's tax-cut and spending bill, which would eliminate subsidies for electric vehicle purchases that have benefited Tesla, the leading U.S. EV maker. That bill passed the Senate by a narrow margin midday Tuesday.