Tesla shares fall nearly 7% in premarket after Elon Musk's ‘American Party' intent spooks Wall Street investors
Tesla shares dropped nearly 7% to $291.96 at 4:01 a.m. (EDT) on the premarket Nasdaq on Monday, 7 July 2025, ahead of the Wall Street open. Shares are currently trading 6.23% lower at $294.59 as of 6:29 a.m. (EDT), compared to $315.35 at the previous market close on Friday, last week.
(This is a developing story. Please check back for updates.)
Read all stories by Anubhav Mukherjee
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Hindustan Times
34 minutes ago
- Hindustan Times
Indian government denies Elon Musk firm X's claim on blocking Reuters: ‘No fresh order issued'
The Indian government on Tuesday denied issuing any fresh orders on July 3 to block accounts of any global news agency, including Reuters, on Elon Musk's microblogging site X (formerly Twitter). The Indian Government said it has not issued any fresh blocking order on 3rd July, 2025 to Elon Musk's X.(AFP file) The government's response comes just hours after X claimed that it was asked to block 2,355 accounts in India, including international news outlets such as Reuters, on July 3, under section 69A of the IT Act. Refuting the allegations, an official spokesperson of the Indian government said as soon as X accounts of Reuters and Reuters World were withheld in India on Saturday evening, it got in touch with the social media platform to unblock them. This is in contrast to X's claimed that the Indian government made the request only after public outcry. 'The Government has not issued any fresh blocking order on 3rd July, 2025 and has no intention to block any prominent international News Channels including Reuters and ReutersWorld. The moment Reuters and ReutersWorld were blocked on X platform in India, immediately the government wrote to 'X' to unblock them,' said the official spokesperson in a statement. It also added that while the government engaged with X 'vigorously' since the the night of July 5 (Saturday), the platform 'un-necessarily exploited technicalities' involved around the process and did not unblock the URLs until the evening of July 6, over 21 hours later. 'The Government continuously engaged and vigorously pursued with 'X' from the late night of 5th July 2025. 'X' has un-necessarily exploited technicalities involved around the process and didn't unblock the URLs. However, after lot of follow up on hourly basis, X has finally unblocked Reuters and other URLs after 9 pm on 6th July 2025. They took more than 21 hours to unblock Reuters,' the statement said. Elon Musk-owned microblogging site X alleged on Tuesday that on July 3, the Indian government ordered it to block 2,355 accounts, including that of Reuters. It added that non-compliance to the order risked criminal liability. The social media platform also claimed and that India's IT ministry demanded it to adhere to the orders within an hour and did not provide any justification for the move. 'On July 3, 2025, the Indian government ordered X to block 2,355 accounts in India, including international news outlets like @Reuters and @ReutersWorld, under Section 69A of the IT Act. Non-compliance risked criminal liability. The Ministry of Electronics and Information Technology demanded immediate action- within one hour- without providing justification, and required the accounts to remain blocked until further notice,' said a post by X' Global Government Affairs account. It added that the government requested X to unblock Reuters' accounts after 'public outcry' Alleging press censorship in India, X said that it is exploring all legal options available. 'We are deeply concerned about ongoing press censorship in India due to these blocking orders. X is exploring all legal options available. Unlike users located in India, X is restricted by Indian law in its ability to bring legal challenges against these executive orders. We urge affected users to pursue legal remedies through the courts," it said.
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Business Standard
41 minutes ago
- Business Standard
Govt denies Reuters takedown order; Elon Musk's X insists it happened
Elon Musk's X's global government affairs team on Tuesday said it had blocked access to Reuters and Reuters World's accounts on the platform, citing notices issued by the Indian government under Section 69A of the Information Technology Act, 2000. 'The Ministry of Electronics and Information Technology demanded immediate action — within one hour — without providing justification, and required the accounts to remain blocked until further notice,' the global government affairs team said in a post on X. The information technology (IT) ministry, however, said it had 'not issued any fresh blocking order on July 3, 2025' and had 'no intention to block any prominent international news channels, including Reuters and Reuters World'. 'The moment Reuters and Reuters World were blocked on the X platform in India, the government immediately wrote to X to unblock them. The government continuously engaged and vigorously pursued the matter with X from the late night of July 5, 2025,' an official spokesperson for the IT ministry said. The blocking of Reuters and Reuters World's accounts was done as part of the central government's July 3 request to block access to these two and 2,355 other accounts, the global government affairs team said in its post. The unblocking of Reuters and Reuters World's accounts was requested by the government after 'public outcry', the post claimed. The IT ministry, however, said X 'unnecessarily exploited technicalities involved around the process and didn't unblock the URLs (uniform resource locators)'. 'However, after a lot of follow-up on an hourly basis, X has finally unblocked Reuters and other URLs after 9 pm on July 6, 2025. They took more than 21 hours to unblock Reuters,' the spokesperson said. In its post, X also said it was 'deeply concerned about ongoing press censorship in India due to these blocking orders'. 'X is exploring all legal options available. Unlike users located in India, X is restricted by Indian law in its ability to bring legal challenges against these executive orders. We urge affected users to pursue legal remedies through the courts,' the global government affairs team said in its post.
NDTV
42 minutes ago
- NDTV
Major Stock Markets Rise After Trump Extends Tariffs Deadline
Major stock markets mostly rose Tuesday after President Donald Trump extended his tariffs deadline and hinted at a further pushback, though uncertainty over US trade policy capped gains. Shortly before the three-month pause on his "Liberation Day" tariffs was set to expire, Trump said he would give governments an extra three weeks to hammer out deals to avoid sky-high levies on exports to the world's biggest economy. "The Trump administration's latest announcements on tariffs offered some relief to financial markets," noted AJ Bell investment analyst Dan Coatsworth. "On the flipside, this only extends the uncertainty with markets likely to spend the next three weeks trying to guess the ultimate outcome." The dollar traded mixed against main rivals and oil prices dropped. Trump has sent out letters to more than a dozen countries -- including top trading partners Japan and South Korea -- setting out what he intends to charge should they not reach agreements by August 1, which replaces Wednesday's deadline. Investors tentatively welcomed the delay amid hopes officials will be able to reach deals with Washington, with some observers seeing the latest move by the president as a negotiation tactic. The letters said Japan and South Korea would be hit with 25-percent tariffs, while Indonesia, Bangladesh, Thailand, South Africa and Malaysia faced duties ranging from 25 percent to 40 percent. When asked if the new deadline was set in stone, the president said: "I would say firm, but not 100 percent firm." And asked whether the letters were his final offer, he replied: "I would say final -- but if they call with a different offer, and I like it, then we'll do it." While Wall Street's three main indices ended down Monday -- with the S&P 500 and Nasdaq back from record highs -- leading Asian and European stock markets rose. Wendy Cutler, vice president at the Asia Society Policy Institute, said the levies on Japan and South Korea "will send a chilling message to others". "Both have been close partners on economic security matters," she said, adding that companies from both countries had made "significant manufacturing investments in the US in recent years". - Key figures at around 1030 GMT - London - FTSE 100: UP 0.2 percent at 8,823.12 points Paris - CAC 40: FLAT at 7,722.91 Frankfurt - DAX: UP 0.4 percent at 24,165.13 Tokyo - Nikkei 225: UP 0.3 percent at 39,688.81 (close) Hong Kong - Hang Seng Index: UP 1.1 percent at 24,148.07 (close) Shanghai - Composite: UP 0.7 percent at 3,497.48 (close) New York - Dow: DOWN 0.9 percent at 44,406.36 (close) Euro/dollar: UP at $1.1732 from $1.1710 on Monday Pound/dollar: DOWN at $1.3585 from $1.3602 Dollar/yen: UP at 146.29 yen from 146.13 yen Euro/pound: UP at 86.34 pence from 86.09 pence West Texas Intermediate: DOWN 0.4 percent at $67.67 per barrel Brent North Sea Crude: DOWN 0.2 percent at $69.45 per barrel
