The ‘Musk selloff’ deepens as Tesla and SpaceX combine for $450 billion two-day wipeout

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• SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook

  Investors are reacting cautiously as the latest political shifts introduce fresh uncertainty into major corporate strategies. Ongoing midterm outcomes are now casting doubt over future infrastructure projects, specifically critical data center developments. Regulatory scrutiny around potential mergers is also intensifying, further dampening sentiment surrounding high-profile technology and aerospace ventures.

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• IRS announces bigger estate and gift tax exemption for 2027

  Federal tax officials have implemented annual cost-of-living adjustments across dozens of tax provisions to help shield taxpayer finances from persistent living costs. Wealthy households gain expanded capacity to transfer assets tax-free following earlier congressional moves that prevented severe scheduled cuts. While the expanded ceiling shields vast wealth, local state taxes may still apply lower thresholds to these transfers.

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• IRS announces new federal income tax brackets for 2027

  These inflation-adjusted thresholds will impact the returns that households file during the 2028 tax season. The changes are pegged to consumer price index data to prevent taxpayers from being pushed into higher brackets solely because of cost-of-living increases. The updates also lift deduction levels as families continue to manage broader affordability pressures across housing, groceries, and fuel.

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