The US stock market experienced a downturn as a feud between US President Donald Trump and Tesla CEO Elon Musk escalated.
Tesla's stock plummeted by 14%, resulting in a loss of approximately $150 billion in market value.
The Dow Jones Industrial Average closed down 0.2% at 42,320 points, the Nasdaq fell 0.8% to 19,298, and the S&P 500 decreased by 0.5% to 5,939.
The conflict between Trump and Musk, along with uncertainty surrounding US-China trade relations, weighed on the market.
The disagreement stems from a tax and spending bill pushed by Trump, which Musk has criticized.
Trump has threatened to revoke contracts from Musk, who opposes the bill due to its provisions regarding electric vehicle tax credits.
Investors are also awaiting the US jobs report, which is expected to show a slowdown in job creation.
The market is also watching for potential interest rate cuts by the Federal Reserve, influenced by weak job data.
Other stocks also experienced declines, including Brown-Forman, PVH, and Procter & Gamble.
In contrast, shares of Freeport-McMoRan and Southern Copper saw gains.