Caroline Woods brings you the biggest news of the day, including the mounting challenges for Elon Musk.
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00:00In the same interview where he revealed he'll be working with the Trump administration for another year,
00:05Elon Musk said he's running his businesses with great difficulty.
00:09Musk made those comments to Fox Business on the same day X suffered a massive outage,
00:14leading to widespread user disruption.
00:17He blamed the interruption on a cyber attack, however he didn't provide any evidence for the claim.
00:22But Musk's bigger problem at the moment may be Tesla,
00:25since hitting a high of nearly $480 a share in December of 2024,
00:30the Musk-led EV maker has lost more than 50% of its market cap, a staggering $800 billion.
00:37Amid the broader market selloff, Monday, March 10 marked one of the single worst
00:41trading days in the company's history, with shares dropping by more than 15%.
00:46However, Musk doesn't seem all too worried,
00:49replying to a post on X by saying simply, it'll be fine long term.
00:54Elon Musk is currently the head of the Department of Government Efficiency, or DOGE,
00:58and claims the agency will save the U.S. government $1 trillion by the end of his tenure.
01:03That'll do it for your daily briefing.
01:04From the New York Stock Exchange, I'm Caroline Woods with The Street.