Tesla shares soared nearly 23% after President Trump announced a 90-day pause on tariffs for over 75 nation, excluding China, boosting investor confidence and lifting the EV giant’s market value to $852.9 billion amid a volatile trading year.
Tesla shares soared by 22.69% on Wednesday, closing at $272.20, after U.S. President Donald Trump announced a 90-day pause on newly imposed reciprocal tariffs for over 75 countries—excluding China. The electric vehicle giant’s market value climbed to $852.9 billion, marking a significant rebound following months of volatility.
The sharp rally came after Trump posted on his Truth Social platform that the temporary pause and a reduced 10% tariff rate would take immediate effect, sparking a broader surge in U.S. stock markets.
Tesla, which has suffered a 44% share price decline since December due to intensifying Chinese competition and CEO Elon Musk’s political ties, appeared to benefit most from the policy shift. Musk, whose personal net worth once peaked at $486 billion, has seen losses of over $130 billion this year alone—driven largely by Tesla’s market dip and investor concerns over his close association with Trump.
Trump's decision to maintain a harsh 125% tariff on Chinese imports while easing pressure on others has triggered mixed reactions but offered much-needed relief to U.S. based manufacturers like Tesla.
As markets digest the temporary reprieve, all eyes remain on how Tesla and global trade dynamics will evolve over the next 90 days.
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Wall Street closed sharply lower on Thursday, dragged down by steep losses in Nvidia, Tesla, and other artificial-intelligence heavyweights, as investors dialed back expectations for further Federal Reserve interest-rate cuts amid renewed inflation concerns and mixed signals from policymakers.
Tesla CEO Elon Musk won shareholder approval on Thursday for the largest corporate pay package in history as investors endorsed his vision of morphing the electric vehicle (EV) maker into an artificial intelligence (AI) and robotics juggernaut.
Tesla has told the Delaware Supreme Court that Elon Musk’s $56 billion pay package should have been restored last year through a shareholder vote, as the company appeals a lower court ruling that rescinded the CEO’s record compensation.
Tesla sales hit a record 497,099 vehicles in Q3 as buyers rushed before the U.S. tax credit expired according to reports. Despite the surge, experts warn the gains may not last amid rising competition.
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Russia has claimed a decisive breakthrough in the nearly four-year war, with the Kremlin announcing the total capture of the key logistics hub of Pokrovsk just hours before United States mediators were due to arrive in Moscow.
Chinese scientists have unveiled a new gene-editing therapy that they say could lead to a functional cure for HIV, making it one of the most promising developments in decades of global research.
Uzbekistan has reopened its border with Afghanistan for the first time since 2021, the country’s Chamber of Commerce and Industry announced on Tuesday.
Belgian police have raided the EU’s diplomatic service and the College of Europe as part of a corruption probe into an EU-funded training academy for diplomats, detaining three suspects and searching multiple premises, according to Politico.
U.S. industrial production rose by 0.1% in September, rebounding after a decline in August, while capacity utilisation remained unchanged, according to Federal Reserve data.
Google’s YouTube has announced a “disappointing update” for millions of Australian users and creators, confirming it will comply with the country’s world-first ban on social media access for under-16s by locking affected users out of their accounts within days.
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You can download the AnewZ application from Play Store and the App Store.
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