Elon Musk reiterates ‘everyone is Hitler’ jibe at Democrats after Tesla stock recovers 6% from five-year low

Elon Musk, the head of the Department of Government Efficiency (DOGE), took a swipe at Democrats who have expressed concerns about the US economy amidst escalating trade wars sparked by Donald Trump. Elon Musk tweeted, “The Democrat strategy really does default to everyone is Hitler” in what seemed like an apparent reference to the backlash he faced for the ‘Nazi’ salute after Trump's win in US Elections 2024.

Elon Musk’s Tesla, whose price had more than halved since mid-December, was heading toward its first back-to-back gain in a month. It added 6 per cent on Wednesday. 

Elon Musk was replying to X user 'Insurrection Barbie", who posted, “I hate to tell you Democrats, but the economy will be just fine. I guess it’s back to everybody’s Hitler as a campaign strategy for 2026”.

Elon Musk had arrived on stage at the Capital One Arena where Trump's supporters had gathered for a rally. After thanking the crowd for voting Trump to power for the second time, Musk tapped the left side of his chest with his right hand and then extended his arm with his palm open, repeating the gesture for the crowd seated behind him.

Elon Musk faced sevre bnacklash for the gesture. But he later posted on X, saying that his opponents needed “better dirty tricks.” "The 'everyone is Hitler' attack is sooo tired," he said.

US STOCK MARKET TUMBLE

US President Donald Trump's plethora of tariff announcements and the recession fear that saw a bloodbath in the US stock market on Monday had Democrats come down heavily on the republican government. Senator Elizabeth Warren accused Trump of jeopardising the economy with his policies, stating that the stock market serves as a warning sign for significant economic challenges.

Further, Democrat Senator Elissa Slotkin also emphasised that Donald Trump's policies could lead the country into a recession

When President Donald Trump failed to dismiss the possibility of a recession during a Fox News interview, the US stock market experienced a huge downturn.

On Monday, the S&P 500 index plummeted by 2.7 per cent, marking its largest single-day decline since December 2018, and the Nasdaq 100 fell by 3.81 per cent, its steepest drop since September 2022.

This resulted in a loss of over $1.75 trillion in market value, with the S&P 500 falling almost 9 per cent below its peak reached on February 191.

The Dow Jones Industrial Average also suffered substantial losses, dropping by nearly 900 points on Monday, and while it recovered some ground later, it still ended Tuesday down by 478 points.

The market's volatility was exacerbated by Trump's inconsistent tariff announcements, which have created uncertainty among investors and raised concerns about a potential economic slowdown or recession.

Elon Musk's Tesla, a major tech company, was particularly affected, with its shares dropping by 15.43 per cent on Monday.

The overall market sentiment has been characterised by "extreme fear" due to the uncertainty surrounding Trump's policies, leading to a significant shift in investor confidence.