Tesla's stock price fell, while space company stocks rose. On Tuesday, the stock prices of Tesla and other electric vehicle manufacturers declined significantly, while the stocks of space companies surged. This change occurred after President Trump announced a series of policies that could have a broad impact on the market. Trump ordered his administration to consider canceling subsidies and related policies for electric vehicles, putting pressure on Elon Musk's company. Additionally, he announced plans to impose a 25% tariff on Mexico and Canada by February 1, and promised during his inauguration speech on Monday to send American astronauts to Mars.

Shares of Tesla Inc. slumped Tuesday alongside other electric-vehicle makers, while space company stocks saw big gains, after President Donald Trump announced a series of policies that could have wide-ranging impacts on markets. Specifically, Trump ordered his administration to consider removing subsidies for EVs and policies favoring the vehicles, which weighed on Elon Musk’s company. He also announced plans to impose 25% tariffs on Mexico and Canada by Feb. 1, and pledged in his inaugural address on Monday to land American astronauts on Mars. 

Impact of Trump's Policies: Tesla Stock Price Falls, Space Company Stocks Rise