Key Takeaways Tesla shares slid Thursday, extending Wednesday's decline.The losses come as reports this week showed sales continued to decline in May across several European countries, and CEO Elon Musk criticized President Trump’s signature budget legislation.

The escalating dispute between President Trump and Tesla CEO Elon Musk on Thursday sent the car maker to a decline of around $152.4 billion in market value, its biggest one-day decline on record, according to Dow Jones Market Data.

The rift between President Donald Trump and Tesla chief Elon Musk has captivated the world as a political drama, but it has also become a Wall Street spectacle, highlighting the risk to equity markets from the world's biggest stocks.