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Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms

Source: press CNBC•November 6, 2026 at 03:46 AM

Elon Musk's Tesla and SpaceX lose over $420 billion in combined market cap after midterms

SpaceX CEO Elon Musk looks on as President Donald Trump speaks to the press after a meeting with technology executives about artificial intelligence at the White House in Washington, Sept. 29, 2026. SpaceX andTesla shares declined by about 9% and 11%, respectively, on Thursday afternoon with…

SpaceX CEO Elon Musk looks on as President Donald Trump speaks to the press after a meeting with technology executives about artificial intelligence at the White House in Washington, Sept. 29, 2026.

SpaceX andTesla shares declined by about 9% and 11%, respectively, on Thursday afternoon with investors concerned that Elon Musk could face new congressional probes — and his companies stricter regulation — following the U.S. midterm elections.

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