Tesla shares have taken a hit in recent days as the world's richest man and U.S. President continue to exchange jabs over the spending bill.

Tesla stock dropped 6% early on Tuesday as traders digested a new Truth Social post from Trump, which highlighted how much assistance Musk has gotten from the US government. The president also suggested having DOGE look into cancelling contracts with Musk's business empire.

Tesla’s stock price dropped more than five percent in premarket trading early on Tuesday following a suggestion by President Donald Trump that government subsidies for Elon Musk’s companies, such as Tesla,