Tesla and SpaceX lose roughly $456 billion in market value over two days

The combined market capitalisation of Tesla and SpaceX fell by about $456 billion between Tuesday night and Thursday night, according to recent market data. Tesla’s share price dropped 3.3% and SpaceX’s fell 3.8% by Wednesday’s close, while earlier Thursday trading showed declines of roughly 11% and 9% respectively. The companies, both based in Texas, saw Elon Musk’s paper wealth shrink by about $113 billion over the same period. In the same midterm cycle, Democrats secured control of both chambers of Congress.