Tesla launches cheaper version of Model 3 in Europe amid Musk sales backlash

Steven Rattner, from Willett Advisors, expressed concerns about the U.S. economy's dual nature, highlighting weak consumer spending alongside a thriving tech sector. He emphasized that China is advancing rapidly in electric vehicles, biotechnology, and artificial intelligence, suggesting that U.S. tariffs are unlikely to impede this progress. Rattner advocates for U.S. innovation and effective domestic policies as the primary means of competition against China.

The SEC has announced a pause on Wall Street's leverage practices, indicating a shift in regulatory scrutiny aimed at managing financial risks. This decision comes amid concerns about excessive leverage in the market, which could pose systemic risks to the financial system.

SpaceX, founded by Elon Musk, is reportedly discussing a record valuation that could exceed $800 billion, with plans for an initial public offering (IPO) as early as 2026. This valuation would surpass OpenAI's previous record of $500 billion, indicating significant investor confidence in SpaceX's future prospects.

The cryptocurrency market has faced significant turmoil, with Bitcoin experiencing a sharp decline of nearly 30% from its peak earlier this year, reflecting a broader negative sentiment in the industry. This downturn follows a period of optimism linked to Donald Trump's return to the White House, which initially buoyed market expectations.

Elon Musk announced that Tesla owners will soon have the ability to text while driving, despite the legality of such actions being prohibited in nearly all 50 states. Safety experts warn that this feature could undermine the automated driving capabilities of Tesla's Full Self-Driving (FSD) technology, raising concerns about driver distraction and safety.

The European Commission has imposed a fine of €120 million on Elon Musk's social media platform, X, citing violations of new digital regulations, including issues related to deceptive practices and user safety. This action reflects ongoing scrutiny of tech companies operating within the EU's regulatory framework.

Cathie Wood's ARK Investment Management has made significant cuts to its holdings in major tech stocks, specifically reducing its positions in Meta Platforms (META) and Tesla (TSLA), as indicated by filings for December 4. This move has raised concerns among investors regarding the stability of these mega-cap stocks that have been pivotal in the recent AI-driven market rally.

A US official has criticized the European Union's recent fine imposed on Elon Musk's social media platform, X, claiming that Europe is effectively taxing American companies. This statement reflects ongoing tensions between US tech firms and European regulatory practices.