Tesla Inc (NASDAQ:TSLA) shed nearly $36 billion in market value after hours.
Its share price fell 3.55%, following outspoken political attacks from CEO Elon Musk and signs of continued weakness in international sales.
The stock looked set to fall another 1% in Thursday trading.
Musk lashed out at a Republican-led spending bill on social media platform X, urging followers to “KILL the BILL” and accusing Congress of “bankrupting America.”
The public clash with former President Trump and US lawmakers has raised fresh concerns over Tesla’s political entanglements and its potential impact on the business.
The sell-off also reflects weaker sales across key global markets.
Tesla UK registrations dropped 45% in May, while declines were reported in Germany, France and Sweden. In contrast, Australia showed signs of life, with Model Y sales up 123% year on year.
Much of Tesla’s future value remains tied to its upcoming robotaxi demonstration, set for June 12 in Austin, as competition from rivals like Waymo continues to grow.