US politics: Musk’s $50 billion blow as Trump feud heats up

Tesla shares have plummeted as the simmering feud between Donald Trump and Elon Musk wipes over $US50 billion off the EV company’s value.

Welcome to our wrap of today’s live US news coverage.

Today we have a fairly positive development: according to US President Donald Trump, Israel has agreed to “the necessary conditions” for a two-month-long ceasefire in Gaza.

What are those conditions? We hope for more details soon.

“My Representatives had a long and productive meeting with the Israelis today on Gaza,” Mr Trump wrote on his social media platform, Truth Social.

“Israel has agreed to the necessary conditions to finalise the 60 Day CEASEFIRE, during which time we will work with all parties to end the War.

“The Qataris and Egyptians, who have worked very hard to help bring Peace, will deliver this final proposal. I hope, for the good of the Middle East, that Hamas takes this Deal, because it will not get better — IT WILL ONLY GET WORSE.

“Thank you for your attention to this matter!”

Meanwhile, Mr Trump and Elon Musk have reignited their feud, with the US President threatening to deport the tech tycoon and strip federal funds from his businesses for criticising his flagship spending bill.

That bill has now passed through the Senate, albeit barely, with Vice President J.D. Vance being forced to cast a tiebreaking vote.

Read our blog posts from earlier today here:

Originally published as US politics: Musk’s $50 billion blow as Trump feud heats up