Shares of technology companies ticked down as a feud with his former political ally President Donald Trump weighed on Elon Musk's Tesla.
Long-simmering tensions between Trump and Musk burst into the open on Thursday, as the two men traded barbs and insults, signaling the rupturing of a relationship that had been one of the most consequential in modern American politics.
Tesla shares plunged by more than 14% as Trump threatened to cut government contracts and subsidies for Musk and his companies.
Among other Silicon Valley companies reliant on government contracts, Palantir fell sharply.
AI chip maker Broadcom is due to post quarterly results late Thursday. Shares held near a record high after a multiday rally.
Ciena swung to a profit and posted higher sales in its fiscal second quarter, as continued investments in cloud and artificial intelligence accelerated demand.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
06-05-25 1736ET
