Tesla stock dropped on Wednesday as a potential split between Donald Trump and Tesla CEO Elon Musk emerged over the president’s tax and spending bill.Shares of the electric vehicle maker dropped 1.7% to $356.

The Tesla CEO and Trump ally said the multitrillion-dollar tax and spending agenda failed to reduce the federal deficit, echoing complaints from hard-line factions in both the House and the Senate.

Cracks in the relationship are visible after Musk criticized Trump’s One Big Beautiful Bill. “I was disappointed to see the massive spending bill, frankly, which increases the budget deficit, not just decreases it, and undermines the work that the DOGE team is doing,” Musk told CBS News in an interview published Tuesday.