NEW YORK, NY – Wall Street was thrown into a panic today, with Tesla ($TSLA) stock plummeting over 20% in pre-market trading following explosive rumors that Donald Trump, if re-elected, is considering invoking the International Emergency Economic Powers Act (IEEPA) to freeze Elon Musk’s assets.
IEEPA, a law typically used to sanction foreign adversaries like Iran and North Korea, would be an unprecedented tool to use against a U.S. citizen and his companies. The mere suggestion that a future administration might weaponize such a powerful act against a domestic rival has sent a chilling effect through the entire market.
“This is financial nuclear war,” exclaimed a lead analyst at Goldman Sachs. “If a president can unilaterally seize the assets of any citizen they deem a ‘threat,’ then the entire foundation of American capitalism is at risk. Every CEO in the country is watching this in horror.”
The rumors reportedly stem from a high-level policy meeting where Trump’s economic advisors were allegedly tasked with finding “all available tools” to deal with Musk.
While the Trump campaign has dismissed the story as “fear-mongering from the fake news media,” the damage has been done. Investors are spooked, not just about Tesla, but about the political risk now attached to any major corporation seen as being on the wrong side of a future administration.
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