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Partly as a result, the automaker’s sales and stock price have plunged.

But the ongoing trade dispute has erased trillions of dollars in US stock market wealth.

The unease in the stock market isn't all about Trump.

Tesla stocks have flagged in the first few weeks of the Trump administration, with the automaker taking a hit due to faltering sales and Musk's ongoing association with Trump and European far-right parties.

Between an escalating trade war, a slowed labor market and President Trump’s declining to rule out an imminent recession, the stock market has seen better days.