The Trump Bump for the S&P 500 has deteriorated into the Trump Dump. And no one is paying the price more than Elon Musk.
Shares of Musk's Tesla have lost $565 billion in value since Inauguration Day, says an Investor's Business Daily analysis of data from S&P Global Market Intelligence and MarketSurge. That's a bigger loss than suffered by any other S&P 500 company. And Musk is holding the biggest losses as he's the largest shareholder in the electric vehicle maker at 12.8% of the company. The value of Musk's position in Tesla alone dropped more than $72 billion — a larger loss than any other individual investor in S&P 500 stocks.
But unfortunately, Musk isn't the only one suffering. The value of all S&P 500 companies as a group has dropped $3.3 trillion since Trump took office. That's the economic equivalent of Apple just disappearing, as the company is worth $3.2 trillion.
"The last month has been a brutal sell-off for tech stocks and the overall market as every day (every hour) there is some news coming out of the Trump White House that is changing the rules of the investing game from tariffs to chips to investments to policy changes among many others," said Dan Ives of Wedbush Securities.
What Should You Do With Your Tesla Stock?
What To Do With Tesla Problem
Tesla has gone from biggest winner from Trump's victory to the top loser. Shares are down a crushing 41% this year, knocking the RS Rating to 68. The company is seen growing again, with earnings expected to rise 17% in 2025.
But the stock has cratered below its 200-day moving average and is trying to hold its cup-with-handle at 264.86.
And Musk's losses keep mounting as a result. To put his $72.5 billion loss from Trump's first day in perspective, consider Jeff Bezos is only down $2.5 billion on his Amazon.com in that time. Amazon has lost $277.9 billion since Trump's inauguration.
Vanishing Magnificent Seven Values
Tesla and Amazon aren't the only Magnificent Seven stocks to suffer a huge hit to their values. The others are suffering, too.
Nvidia shares have suffered as well. They're down nearly 12% since Trump's debut. That has wiped $403 billion in market value. Shares remain below the 200-day moving average. Nvidia has to at least retake its 50-day moving average before it becomes a buy again.
But for now, investors must hope the losses don't get much worse. And if they do, it's time to have a recession plan.
Biggest Drops In Value By S&P 500 Stocks
Market values since Inauguration Day
| Company | Ticker | Market value lost ($ billions) | YTD % ch. |
|---|---|---|---|
| Tesla | TSLA | -$565.0 | -41.4% |
| Nvidia | NVDA | -$403.8 | -11.6% |
| Alphabet | GOOGL | -$390.5 | -15.6% |
| Microsoft | MSFT | -$301.2 | -9.4% |
| Amazon.com | AMZN | -$277.9 | -12.4% |
| Apple | AAPL | -$251.3 | -7.2% |
| Broadcom | AVGO | -$193.5 | -17.6% |
| JPMorgan Chase | JPM | -$75.1 | -10.3% |
| The Home Depot | HD | -$57.6 | -14.2% |
| Walmart | WMT | -$52.9 | -7.2% |
