Petty Officer 1st Class Brandon Giles/ U.S. Coast Guard via Getty Images
(WASHINGTON) — Investigators will offer updates Tuesday in the probe into the devastating crash between an American Airlines plane and a U.S. Army Black Hawk helicopter that killed all 67 people on board both aircraft.
The crash happened on the night of Jan. 29 when the PSA Airlines Bombardier CRJ700 regional jet, which had departed from Wichita, Kansas, with 64 people on board, was about to land at Washington, D.C.’s Ronald Reagan Washington National Airport. The three soldiers on the helicopter were conducting an annual training flight and night vision goggle check ride for one of the pilots at the time when the two aircraft collided.
Both aircraft plunged into the Potomac River.
National Transportation Safety Board Chairman Jennifer Homendy said last month that there was no indication the helicopter crew could tell there was an impending collision.
The soldiers may have had “bad data” on the altitude from their altimeter, as the pilots had differing altitudes in the seconds before the crash, Homendy said. One helicopter pilot thought they were at 400 feet and the other thought they were at 300 feet.
The transmission from the tower that instructed the helicopter to go behind the plane may not have been heard by the crew because the pilot may have keyed her radio at the same second and stepped on the transmission from ATC, the NTSB added.
The Black Hawk crew was likely wearing night vision goggles throughout the flight, Homendy said.
The NTSB will hold a news conference at 2 p.m. ET Tuesday.
(NEW YORK) — U.S. stocks seesawed between positive and negative territory in early trading on Tuesday, remaining essentially unchanged after losses suffered Monday when markets reacted to President Donald Trump’s refusal to rule out a possible recession.
The Dow Jones Industrial Average ticked down about 225 points, or 0.5%, while the S&P 500 ticked up 0.2%. The tech-heavy Nasdaq inched higher about 0.5%.
Wobbly markets in early trading on Tuesday followed a days-long market decline touched off by U.S. tariffs imposed last week on Canada, Mexico and China, some of which were delayed. Retaliatory tariffs issued by China on Monday deepened a trade war between the world’s two largest economies.
On Monday, the tech-heavy Nasdaq plummeted 4%, recording its worst day of trading since 2022. The Dow Jones Industrial Average and S&P 500 each dropped more than 2% on Monday.
The market drawdown on Monday extended losses last week. The S&P 500 recorded its worst week since September.
When asked about a potential recession in an interview broadcast on Sunday, Trump said tariffs imposed in recent days could bring about a “period of transition.”
“I hate to predict things like that,” Trump told Fox News in an interview recorded on Thursday. “It takes a little time, but I think it should be great for us.”
In response to a question later on Sunday about his reluctance to rule out a recession, Trump said: “I tell you what, of course you hesitate. Who knows?”
The Bureau of Labor Statistics is expected Tuesday morning to release a report on how many jobs are open in the economy, which could provide another clue about the strength of economy amid the new recession concerns. An inflation report is expected Wednesday.
This is a developing story. Please check back for updates.
(DALLAS) — A shift is on the horizon at Southwest Airlines. The carrier known for its customer-friendly policies and affordable airfare announced changes to its baggage and fare structure in an effort to cater to a broader range of travelers.
While the low-cost airline has long stood out for offering two free checked bags for all passengers, starting May 28, some customers will see charges for checked baggage.
The most notable change from the Dallas-based carrier that was announced Tuesday impacts those not holding certain status levels with Southwest’s Rapid Rewards program.
Southwest Airlines will continue to offer two free checked bags to Rapid Rewards A-List Preferred Members as well as its Business Select travelers.
A-List Members and other select customers will still receive one free checked bag, the airline said. However, those without qualifying status will now face a charge for their first and second checked bags, subject to weight and size limitations.
“We have tremendous opportunity to meet current and future customer needs, attract new customer segments we don’t compete for today, and return to the levels of profitability that both we and our shareholders expect,” President and CEO Bob Jordan said.
Why Southwest is changing baggage fees?
For passengers traveling on lower-priced fares, such as Wanna Get Away or Wanna Get Away Plus, the changes outlined reflect a move toward more targeted options for a range of travelers from budget conscious to frequent flyers, which the airline hinted at in December.
Southwest Rapid Rewards program points changes, assigned seats and more
In addition to the new baggage fees, Southwest’s Rapid Rewards program will also have some changes for earning points.
Customers who fly Business Select will earn more points, while those on lower-tier options — like Wanna Get Away fares — will earn fewer.
The airline is also introducing a new Basic fare category for the lowest-priced tickets starting May 28 ahead of rolling out assigned seating and extra legroom options.
“We’re evolving our business to create more choice for our current and future customers,” Jordan said.
Southwest is working to expand its reach with flights now available to book through Expedia, and an industry-standard partnership with Icelandair.
Flight credits issued for tickets purchased on or after May 28 will expire one year or earlier from the date of ticketing, depending on the fare type purchased.
(LONDON) — A fire burning onboard two ships that collided Monday in the North Sea appeared in aerial footage to have been largely put out, although a shipping official told BBC News it would be “premature” to say the fire on the tanker had been extinguished.
A Portuguese container ship collided with a U.S.-flagged oil tanker while the tanker was anchored in the North Sea, on the eastern coast of England, with both ships catching on fire, officials said Monday.
“There will be an investigation,” said Martyn Boyers, chief executive of the Port of Grimsby. “With all the technology that these vessels have, there’s no way it should have happened.”
The U.S. ship was identified as the Stena Immaculate, while the Portuguese-flagged container ship was identified as the Solong. Both ships sustained significant damage and were abandoned by their crews.
Thirty-six people between the two ships were safely brought to shore, with one person transported to a hospital, the U.K. coast guard said.
One of the Solong’s crew members remains missing in the wake of the collision, while the other 13 were brought safely to shore, according to Ernst Russ, the manager of the container vessel.
This is a developing story. Please check back for updates.
ABC News’ Joe Simonetti, Mark Osborne and Meredith Deliso contributed to this report.
(NEW YORK) — U.S. stock futures traded slightly higher on Tuesday, following Monday’s major selloff as markets digested President Donald Trump’s comments that there would be a “period of transition” as the economy adjusted to a global trade war.
Dow futures traded up 156 points, or about 0.36%.
The Dow Jones Industrial Average closed down about 2% on Monday, while the S&P 500 declined 2.7%. The tech-heavy Nasdaq plummeted 4%, which amounted to more than $1 trillion in losses, according to Bloomberg.
Asian stocks, which opened sharply lower on Tuesday, following the U.S. selloff, recovered some ground. And European stocks were trading mixed.
The Bureau of Labor Statistics is expected Tuesday morning to release a report on how many jobs are open in the economy, which could provide another clue about the strength of economy amid the new recession concerns. An inflation report is expected Wednesday.
The main driver of the recent declines appears to be America’s trade war, with investors watching the administration’s latest plans on trade and tariffs. The selloff coincided with retaliatory tariffs against the U.S. following levies last week on Canada, Mexico and China, some of which were delayed.
This is a developing story. Please check back for updates.
(LONDON) — American and Ukrainian officials will meet in Jeddah, Saudi Arabia, for major talks on Tuesday with the goal of charting a course toward ending Russia’s three-year-old war — and after weeks of fraying ties between presidents Donald Trump and Volodymyr Zelenskyy.
The two sides have framed Tuesday’s talks as a way to reset bilateral relations following last month’s explosive Oval Office meeting between Trump, Zelenskyy and Vice President JD Vance. The showdown prompted Trump to denounce Kyiv as the main impediment to peace in Ukraine, as well as placing a freeze on U.S. military aid and some intelligence sharing.
“The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things,” Secretary of State Marco Rubio — who will lead the U.S. delegation — said on Monday ahead of the talks.
Zelenskyy has stressed his readiness for peace, though repeatedly warned that any agreement must ensure deterrence against future Russian aggression. On Monday, Zelenskyy — who will not take part in Tuesday’s talks — traveled to Saudi Arabia to meet with crown prince and de facto ruler Mohammed bin Salman.
Zelenskyy said he had a “detailed discussion” with Salman on “the steps and conditions needed to end the war and secure a reliable and lasting peace,” in a social media post after the two leaders met.
“I specifically emphasized the issue of the release of prisoners and the return of our children, which could become a key step in building trust in diplomatic efforts. A significant part of the discussion was dedicated to the formats of security guarantees,” Zelenskyy said.
Zelenskyy said a Ukrainian delegation will “remain” in the country to “work with the U.S. team” on Tuesday. Zelenskyy said he hopes for “practical outcomes,” from the U.S.-Ukraine meeting.
“Ukraine’s position in these talks will be fully constructive,” he added.
The U.S. delegation will be led by Rubio, national security adviser Mike Waltz and Middle East envoy Steve Witkoff.
Ukraine’s negotiating group will include Andriy Yermak — the head of Zelenskyy’s office — Foreign Ministry Andrii Sybiha, Defense Minister Rustem Umerov, and Deputy Chief of Staff Pavlo Palisa.
“The team is on site,” Yermak wrote on Telegram on Tuesday morning. “Getting ready to work. Protecting Ukrainian interests, a clear vision of ending the war, we will work effectively with our American partners.”
Trump’s administration is pushing Kyiv to make concessions in pursuit of a peace deal to end Russia’s invasion. The White House also wants Ukraine to sign off on a controversial minerals sharing agreement Trump has framed as a way to recoup tens of billions of U.S. aid sent to Ukraine since 2022.
Rubio said the Russians “are going to have to do difficult things” too, though Trump and his top officials have not said what concessions Moscow may be asked to make. U.S. and Russian negotiators first met in Riyadh, Saudi Arabia, last month.
A source close to Zelenskyy confirmed to ABC News that Ukraine will propose a partial ceasefire in its talks with the U.S. The partial ceasefire would apply to long-range air strikes and attacks at sea, the source said.
The timeframe for the truce remains unclear.
“We want to propose a partial ceasefire that can be monitored and then see how the Russians respond to determine the next steps,” the source added.
Rubio told reporters on Monday he saw some promise in Ukraine’s partial ceasefire proposal.
“I’m not saying that alone is enough, but it’s the kind of concession you would need to see in order to end this conflict,” he said.
Rubio said finalizing the mineral deal with Ukraine was “an important topic, but it’s not the main topic on the agenda.”
“It’s certainly a deal the president wants to see done but it doesn’t necessarily have to happen tomorrow,” he said. “There’s still more details to work out.”
The talks began hours after Ukraine launched its largest drone attack of the war into Russia. Russian authorities said defense forces downed 337 drones overnight, including 91 over Moscow. At least two people were killed and eight injured in the capital, Gov. Andrei Vorobyov said.
Asked Tuesday morning if the Ukrainian strikes were intended to disrupt nascent ceasefire talks, Kremlin spokesperson Dmitry Peskov told journalists, “There are no negotiations yet. So far the Americans, in their own words, are trying to understand how ready Ukraine is for peace talks. There are no negotiations yet, so there is nothing to disrupt here yet.”
ABC News’ Nataliia Popova, Ellie Kaufman and Oleskiy Pshemyskiy contributed to this report.
(LONDON) — Russia’s Defense Ministry said its forces shot down 337 Ukrainian drones overnight, in what appeared to be Kyiv’s largest cross-border aerial attack on Russia since Moscow launched its full-scale invasion in 2022.
The ministry reported downing UAVs over 10 Russian regions. Moscow air defenses were firing through the night while facing multiple waves of attack drones, according to Mayor Sergei Sobyanin. The Defense Ministry said it shot down 91 drones over the capital.
Six drones were shot down near the Kursk nuclear power plant, the ministry said, close to fierce fighting as Moscow’s forces seek to eject Ukrainian troops from the western Russian region.
The attack on Moscow was “massive,” Sobyanin wrote on Telegram. Gov. Andrei Vorobyov said at least two people were killed and eight injured in the capital.
Several high-rise residential buildings, houses and businesses were damaged by drones or falling debris, Vorobyov said.
Russia’s federal air agency said flights were suspended at all four of Moscow’s airports, with flights at airports in the Yaroslavl and Nizhny Novgorod regions to the east of Moscow also grounded.
Russian Foreign Ministry spokesperson Maria Zakharova denounced the barrage as “a terrorist attack” in a statement posted on Telegram.
Kremlin spokesperson Dmitry Peskov said details of the attack were “naturally” reported to President Vladimir Putin and suggested Ukraine had targeted civilian facilities, in comments reported by the state-run Tass news agency.
Asked if the Ukrainian strikes were intended to disrupt nascent ceasefire talks, Peskov responded, “There are no negotiations yet. So far the Americans, in their own words, are trying to understand how ready Ukraine is for peace talks. There are no negotiations yet, so there is nothing to disrupt here yet.”
“But the fact that it is possible to spoil the emerging trend, yes,” Peskov added.
The Ukrainian military did not immediately comment on the strikes.
The drone barrage came as U.S. and Ukrainian negotiators prepared to open ceasefire talks in Jeddah, Saudi Arabia, on Tuesday after weeks of tensions and public disagreements.
President Donald Trump’s administration is pushing Kyiv to make concessions in pursuit of a peace deal to end Russia’s three-year-old invasion of the country. The White House also wants Ukraine to sign off on a controversial minerals sharing agreement Trump has framed as a way to recoup tens of billions of U.S. aid sent to Ukraine since 2022.
Kyiv has repeatedly said it will not accept any deal that does not include concrete security guarantees to prevent repeat Russian aggression in the future.
Trump has framed Ukraine and its President Volodymyr Zelenskyy as the main impediment to peace, falsely blaming Ukraine for starting the war, seeking to undermine Zelenskyy’s legitimacy and publicly aligning with Moscow’s false narratives around the conflict. The U.S. has sought to push Ukraine to the negotiating table by putting a freeze on military aid and some intelligence sharing.
“The most important thing that we have to leave here with is a strong sense that Ukraine is prepared to do difficult things,” Secretary of State Marco Rubio — who will take part in Tuesday’s talks — said on Monday.
Rubio said the Russians “are going to have to do difficult things” too, though Trump and his top officials have not said what concessions Moscow may be asked to make. U.S. and Russian negotiators first met in Riyadh, Saudi Arabia, last month.
Zelenskyy traveled to Saudi Arabia on Monday to meet with crown prince and de facto ruler Mohammed bin Salman. Zelenskyy will not take part in Tuesday’s talks with the American delegation.
Zelenskyy said he had a “detailed discussion” with Salman on “the steps and conditions needed to end the war and secure a reliable and lasting peace,” in a social media post after the two leaders met.
“I specifically emphasized the issue of the release of prisoners and the return of our children, which could become a key step in building trust in diplomatic efforts. A significant part of the discussion was dedicated to the formats of security guarantees,” Zelenskyy said.
Zelenskyy said a Ukrainian delegation will “remain” in the country to “work with the U.S. team” on Tuesday. Zelenskyy said he hopes for “practical outcomes,” from the U.S.-Ukraine meeting.
“Ukraine’s position in these talks will be fully constructive,” he added.
A source close to Zelenskyy confirmed to ABC News that Ukraine will propose a partial ceasefire in its talks with the U.S. The partial ceasefire would apply to long-range air strikes and attacks at sea, the source said.
The timeframe for the truce remains unclear.
“We want to propose a partial ceasefire that can be monitored and then see how the Russians respond to determine the next steps,” the source added.
Rubio told reporters on Monday he saw some promise in Ukraine’s partial ceasefire proposal.
“I’m not saying that alone is enough, but it’s the kind of concession you would need to see in order to end this conflict,” he said.
Rubio said finalizing the mineral deal with Ukraine was “an important topic, but it’s not the main topic on the agenda.”
“It’s certainly a deal the president wants to see done but it doesn’t necessarily have to happen tomorrow,” he said. “There’s still more details to work out.”
In the meantime, nightly exchanges of drones and missiles appear set to continue.
Ukraine’s air force said its forces tracked one Iskander ballistic missile and 126 drones fired into the country overnight. The missile and 79 drones were shot down, the air force said, with another 35 UAVs lost in flight without effect.
Donetsk, Odesa, Kharkiv, Sumy and Kyiv were impacted, the statement said.
Nataliia Popova, Ellie Kaufman and Oleskiy Pshemyskiy contributed to this report.
(WASHINGTON) — Tuesday marks five years since the World Health Organization (WHO) declared the global outbreak of COVID-19 to be a pandemic.
Since then, millions of Americans have been hospitalized, and more than 1.2 million people have died.
Additionally, millions of adults and children are still feeling the effects of their illness and have been diagnosed with long COVID.
Here’s a look at the disease in the U.S. by the numbers.
Hospitalizations
In the last 28 days, ending about Feb. 16, 2025, about 3,800 Americans were hospitalized due to COVID-19, according to data from the WHO.
During the week ending Feb. 22, the most recent week for which data is available, data from the Centers for Disease Control and Prevention (CDC) shows that just 1.3% of inpatient beds were occupied by COVID-19 patients as well as 1.3% of intensive care unit beds.
Additionally, during the week ending March 1, the rate of COVID-19-associated hospitalizations was 1.4 per 100,000 people. The peak for the 2024-25 season was 4.2 per 100,000 people during the week ending Jan. 4, which is much lower than the peak of 35.6 per 100,000 people during the 2021-22 season.
Deaths
Since the pandemic began, more than 1.22 million Americans have died from COVID-19 as of March 6, 2025, according to the latest CDC data. The U.S. crossed the 1 million mark on May 12, 2022.
During the week ending March 1, there were 274 deaths recorded from COVID, according to CDC provisional data. This is the lowest number recorded since the pandemic began.
Meanwhile, the age-adjusted death rate currently sits at 0.1 per 100,000 people, which has remained relatively consistent since spring 2024 and is among the lowest rates recorded since the pandemic.
By comparison, during the height of the omicron wave in winter 2021-22, the death rate was 53 times higher at 5.3 per 100,000. The highest-ever death rate was recorded the week ending Jan. 9, 2021, at 6.5 per 100,000.
Studies have suggested COVID-19 vaccines, combined with mitigation measures, helped save hundreds of thousands of lives in the U.S.
Long COVID
Long COVID is a condition that occurs when someone infected with COVID-19 is within three months of the initial diagnosis and lasts at least two months.
As of August 2024, a federal survey found that 17.9% of adults have experienced long COVID — equivalent to about 47.6 million Americans, according to 2024 U.S. Census Bureau estimates.
Meanwhile, 5.3% of adults — equivalent to about 14.1 million Americans — reported they were currently experiencing long COVID symptoms at the time of the survey. Of those currently experiencing long COVID, nearly a quarter said they had significant activity limitations.
Another recent federal study, published in the journal JAMA Pediatrics in February, showed approximately 1.01 million children, or 1.4%, are believed to have ever experienced long COVID as of 2023 and about 293,000, or 0.4%, were experiencing the condition when the survey was being conducted.
Vaccines
In June 2024, the CDC recommended that everyone ages 6 months and older receive an updated 2024-2025 COVID-19 vaccine to protect against severe illness, hospitalization and death.
The updated vaccines target the JN.1 lineage of the virus, an offshoot of the omicron variant. There are formulations from Pfizer-BioNTech and Moderna available for those 6 months old and older and from Novavax available for those aged 12 and older.
The CDC, however, has previously stated vaccination coverage remains low, meaning “many children and adults lack protection from respiratory virus infections provided by vaccines.”
As of Feb. 22, 2025, only 23.2% of adults and 11.9% of children were vaccinated with the updated vaccine, CDC data shows.
Additionally, despite evidence showing the vaccine is safe for pregnant women, the CDC estimates that just 13.8% of pregnant women have received the updated vaccine.
(WASHINGTON) — Five years ago, the World Health Organization declared the COVID-19 outbreak to be a pandemic, leading to stay at-home orders and shutdowns across the U.S. and world.
The nation looks much different since then, and scientists and researchers have learned a lot about the virus, including how it infects people, the best forms of treatment and what puts someone at risk for long COVID.
There are still many questions, however. Health care professionals are working to find answers, such as how many people have truly died, how long the virus spread undetected in the U.S. and its origins.
“We know this emerged in China, around the city Wuhan. That’s very clear,” Dr. Cameron Wolfe, an infectious diseases specialist and a professor of medicine at Duke University School of Medicine, told ABC News. “We know when [the] medical community identified it, but we don’t know quite how long it was circulating before then. I think it’s caused some of the consternation.”
How many people have died of COVID-19?
As of March 6, at least 1,222,603 Americans have died of COVID-19, according to data from the Centers for Disease Control and Prevention.
The U.S. currently has the highest number of deaths of any country in the world, according to the WHO.
Experts, however, believe the true death toll is higher.
“More than a million people is a tragedy into itself, let’s start with that obvious fact,” Wolfe said. “I think the numbers are really hard to pin down for one key reason.”
Determining the exact cause of death can be complicated, Wolfe explained. Someone could die of COVID pneumonia — a lung infection caused by the virus — or die from a heart attack after contracting COVID.
Another example is an older adult who contracts COVID-19. They may become dehydrated, break a bone — because dehydration negatively impacts bone health — and suffer fatal complications, Wolfe said.
“How you count those outcomes is really important because, to me, that person wouldn’t have had their heart attack or that person wouldn’t have become dehydrated and fallen over and landed in the hospital if not for COVID triggering that event in the first place,” he said. “So, I actually think it’s really important to count those as COVID-associated mortalities, but they’re hard to count. They’re hard to track.”
Globally, more than 7 million people have died due to COVID-19, WHO data shows, although the agency says the pandemic caused an estimated 14.83 million excess deaths around the world in 2020 and 2021.
What is the mechanism behind long COVID
Scientists are not sure what causes long COVID but have identified certain risk factors such as an underlying health condition. Long-COVID symptoms can last for weeks, months or even years and can include — but are not limited to — fever, fatigue, coughing, chest pain, headaches, difficulty concentrating, sleep problems, stomach pain and joint or muscle pain, according to the CDC.
Research has found that patients with long COVID tend to have lower cortisol levels and lower testosterone levels.
“There are several questions that we still do not have answers for. What is the mechanism of the disease? Why do some people get more sick than others?” Dr. Fernando Carnavali, an internal medicine physician and a member of the team at Mount Sinai’s Center for Post-COVID Care, told ABC News.
Carnavali said scientists are using machine learning to study groups of long COVID patients in an attempt to determine the mechanisms that cause the condition.
“Do we have a single answer? Not as of yet, and most likely, perhaps we’ll have more than one answer,” he said.
Carnavali said the mechanism may not be the same for every long COVID patient. Additionally, people may have different symptoms due to different genetic predispositions.
“Some of the deficits that we have five years ago still remain, but I think that we should all understand and be hopeful that … researchers using machine learning will [provide] us some of the answers that we need as clinicians,” he said.
When did COVID enter the United States?
It’s still not exactly clear when the virus first entered the U.S. The first confirmed case in the country was Jan. 20, 2020, in a man in his 30s in Washington state, who developed symptoms after a trip to Wuhan.
However, studies have suggested the virus may have been circulating undetected for months beforehand.
Although the WHO was first notified on Dec. 31, 2019, about the mysterious pneumonia-like illness that originated in Wuhan, experts say it is likely that in an age of global travel, the virus was in the U.S. before then.
“It’s more likely circulated before Jan. 1 [2020]. It doesn’t seem unreasonable, November, December,” Dr. Lisa Olson-Gugerty, an associate teaching professor for Syracuse University and practicing family nurse practitioner in emergency medicine, told ABC News. “COVID masquerades itself as a flu-like illness, upper respiratory-like illness, like many other viral illnesses. It’s not easy to say, ‘Hey, I think this must be a new thing, and I’m going to tell everyone.'”
She went on, “I think it takes a bit of collective time to recognize a new viral strain, and it doesn’t seem unreasonable [there were] cases that could have been recognized as COVID before the date of release of information.”
Where did the virus come from?
There are two theories about where the virus, known as SARS-CoV-2, originated.
At least four U.S. agencies believe the virus was a result of natural transmission and that the virus jumped from animals to humans at a wet market.
The FBI, the CIA and the Department of Energy – the latter with “low confidence” — believe the COVID-19 pandemic “most likely” was the result of a laboratory leak in China.
Additionally, an April 2023 report from Senate Republicans conceded that “both hypotheses are plausible” but that the evidence points to the virus emerging from an accidental lab leak in Wuhan — and there may even have been multiple leaks.
If the virus did come from an animal, there are questions about which species may have spilled the virus over from animals to humans.
“I’ve seen a lot of conflicting information,” Olson-Gugerty said. “Did it come from a bat? Did it get into raccoon dogs or civet cats? Or was it a lab-created virus in Wuhan, China? There does seem to be a jury that’s out.”
Wolfe said we may never know the true origins of SARS-CoV-2, but trying to answer the question helps scientists and public health professionals learn how to mitigate the spread so a pandemic — or even widespread illness — doesn’t happen again.
“This was the same question that happened during the Ebola pandemic, when we had to say, ‘Where did this come from? How can we educate people to minimize this future risk?'” he said. “It was important to examine where COVID-19 came from to try and put things in place that would stop that happening.”
He added, “We certainly, I would say, have better safety mechanisms now in place … so there are some good things that have come out of this.”
(NEW YORK) — Since Elon Musk went to Washington, D.C., to slash the government alongside President Donald Trump, the stock of his electric car company Tesla has taken a significant hit, tumbling nearly 48% this year. During an interview this week, Musk addressed the difficulties.
“You’re giving up your other stuff,” Fox Business’ Larry Kudlow asked Musk during an interview. “How are you running your other businesses?”
“With great difficulty,” Musk replied with a sigh.
On Monday, Tesla stock closed down 15% after its worst trading day in five years. Stock in the company has dropped every week since Musk went to Washington, wiping out more than $700 billion in market value. And Musk’s personal net worth has dropped $148 billion since Inauguration Day, according to the Bloomberg Billionaire Index.
But it’s not just Musk who is taking a hit. The stock plunge has caused outrage among some shareholders, who have publicly questioned Musk’s commitment to his electric vehicle company or called on the Tesla board to replace him.
Another group that’s now sounding the alarm: pension fund managers.
“This is a real cost to real people,” Illinois State Treasurer Michael Frerichs told ABC News. “We’re talking about firefighters, police officers, nurses who work in public. Their retirement dollars are at stake.”
Frerichs, a Democrat, said he believes the drop in stock is due to Musk’s work leading the governmental cost-cutting efforts at the Department of Government Efficiency, or DOGE. It’s deeply political work, Frerichs says, that’s driving half the country away from buying his cars.
“Michael Jordan was famous here for not being involved in Democrat politics, because, as he said, even Republicans buy sneakers, and he knew he didn’t want to lose those customers,” Frerichs said.
New York City Comptroller Brad Lander, who oversees approximately $1.2 billion in Tesla stock through the city’s pension funds, echoed that sentiment.
“There’s no real leadership. It is at the bottom of his list. And so we have not had at Tesla a CEO focused on selling EVs, on growing the company, on making money and returns for shareholders,” Lander told ABC News.
Lander, a Democrat who is running for mayor in New York City, said he still has faith in the Tesla stock — but that it won’t be endless.
“But look, if they can’t count on this stock, you know, and we have to look elsewhere in the marketplace, that’s how this works,” Lander said.
Tesla representatives did not reply to a request for comment from ABC News
Its not just Democrats who have called for answers from Musk. Barstool Sports founder Dave Portnoy — who supported Trump in the 2024 election — said he had to “raise his eyebrows” as a stockholder himself.
“I like DOGE, I like what they’re doing,” Portnoy said in an interview on Fox Business last month. “But let me tell you this. If you are going to send out — and you got to call it both ways — if you are going to send emails to federal workers and say, ‘What have you done for the last five days,’ I think Tesla shareholders are entitled to ask their CEO, Elon Musk, ‘What have you done for Tesla the last five days?'”
“Seemingly all he cares about right now is DOGE,” Portnoy said. “Now, could it be coincidence the stock is down 25% since he really started this? I guess. But I think it’s fair as a shareholder of Tesla to say, ‘What are you doing for shareholders?'”
Some who are critical of Musk’s role in cutting the federal workforce have targeted Tesla, vandalizing vehicles and protesting at dealerships around the country.
“We’re here today rallying against Elon and what he’s done,” one Florida protester, Jeff Finkelstein, told a local news outlet. “Ever since Trump’s been in, it’s been more about Musk than Trump and we’re just showing our frustration.”
In Massachusetts, police asked the public for help after a suspect allegedly vandalized Teslas with images of Musk. The suspect, when confronted, said he had a right to do so because it’s his “free speech,” according to a social media post.
Musk himself replied to the post, writing, “Damaging the property of others, aka vandalism, is not free speech!”
