Transcript:
Caroline Woods: In the same interview where he revealed he’ll be working with the Trump Administration for another year, Elon Musk said he’s running his businesses “with great difficulty.”
Musk made those comments to Fox Business on the same day X suffered a massive outage leading to widespread user disruption. He blamed the interruption on a cyber attack, however he didn’t provide any evidence for the claim.
Related: Tesla makes a desperate attempt to escape its sales nightmare
But Musk’s bigger problem at the moment may be Tesla. Since hitting a high of nearly $480 a share in December of 2025, the Musk-led EV maker has lost more than 50% of its market cap – a staggering $800 billion. Amid the broader market selloff, Monday March 10 marked one of the single-worst trading days in the company’s history, with shares dropping by more than 15%. However, Musk doesn’t seem all too worried, replying to a post on X by saying simply “It will be fine long-term.
Elon Musk is currently the head of the Department of Government Efficiency, or DOGE – and claims the agency will save the U.S. government $1 trillion by the end of his tenure.
That’ll do it for your daily briefing. From the New York Stock Exchange, I’m Caroline Woods with TheStreet.
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