Unexpected Alliance: Trump's Surprising Support for Musk Amid Tesla Turmoil

In a surprising turn of events, President Donald Trump expressed support for Elon Musk's Tesla despite their notorious past disputes. Early Thursday, Trump took to Truth Social, sending shockwaves through digital platforms.

Despite the backing, Tesla's share prices continued to nosedive, dipping 9% after reporting dismal quarterly earnings. With a notable drop in revenue and profits, investor anxiety mounts, driven by Musk's political entanglements and increased market competition.

Speculations about retaliatory measures from Trump have subsided as he assured continued support for U.S. businesses. Nonetheless, Tesla faces significant fiscal challenges ahead, prompted by potential subsidy cuts and a shift toward autonomous vehicle services.

(With inputs from agencies.)