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Elon Musk’s ‘American Party’ Announcement Sends Shockwaves Through Crypto and Equity Markets
Elon Musk’s ‘American Party’ Announcement Sends Shockwaves Through Crypto and Equity Markets
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BTCCSquare news:
Elon Musk’s surprise announcement of a new political venture—the 'American Party'—triggered immediate market repercussions. Tesla shares ($TSLA) plummeted 7% within hours, erasing $15 billion from Musk’s net worth. The broader crypto market reacted with heightened volatility, though no specific tokens were directly cited in the initial fallout.
Investor concerns appear tied to regulatory uncertainty and potential political friction, particularly given Musk’s influence in both tech and digital asset circles. The sell-off mirrors historical sensitivity to Musk’s public statements, with Tesla’s drop equaling Rivian’s entire market cap in a single session.
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