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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.

Investors in the EV company have already been through a volatile ride this year. Now its CEO is publicly jousting with the president of the United States. The most powerful man in the world and the richest man in the world finally turned on each other.