On Saturday, tens of thousands of people in Europe and the United States launched protests, directly targeting Trump and Musk

The radical tariff policy of the Trump administration has led to a global stock market evaporation of $6.6 trillion, severely damaging investors' 401k. People held "Hands Off!" protests in over 1,000 cities worldwide, demanding the protection of social safety nets and economic stability. The sentiment against Tesla and Musk is rising, which may affect related investments.

On Saturday, tens of thousands of protesters erupted in large-scale demonstrations across the United States and around the world, opposing various policies of the Trump administration. The protestors criticized a range of government policies, including radical trade tariffs, layoffs of federal employees, the deportation of legal immigrants, attacks on the transgender community, threats to invade Greenland, and Musk's Department of Government Efficiency.

The protests coincided with the official implementation of the comprehensive 10% tariff announced by Trump, leading to a two-day sell-off on Wall Street, with the stock market's value evaporating by $6.6 trillion. Despite the significant market turmoil, Trump urged Americans on social media to remain patient during what he called an "economic revolution," promising that "it won't be easy, but the end result will be historic."

"Hands Off!" Movement: Over 1,000 Cities Participating Nationwide

The protests organized by the "Hands Off!" movement covered over 1,000 cities and towns across the United States, supported by various advocacy organizations ranging from abortion rights to climate change. The largest rally took place at the National Mall in Washington, where protesters held a variety of signs, including "Penguins Against Tariffs," "Send Musk to Mars," and "Make My 401k Great Again."

A protester from Annapolis, Peter (who requested not to disclose his last name), stated that he attended the rally in response to what he sees as Trump's and Musk's "attack" on democracy. Washington resident Maya expressed that she was protesting "billionaire oligarchy," adding that "tariffs hurt the working class."

Musk Becomes the Focus of Protests: DOGE Department Sparks Legitimacy Controversy

After Trump returned to the White House, he appointed Musk to cut government spending through the Department of Government Efficiency (DOGE), a move that quickly sparked backlash.

Musk's rapid actions to reorganize and reduce federal agencies have led to a series of legal challenges, including a restraining order issued in March that temporarily blocked DOGE staff from accessing the Social Security Administration's systems. A group of labor and advocacy organizations questioned the legality of the agency allowing DOGE access to its sensitive information databaseProtesters not only expressed their dissatisfaction in Washington, but also held demonstrations in European cities such as London, Lisbon, and Paris, with protests occurring in front of Tesla showrooms in Berlin. Tesla has become the focal point of protests against Musk, with Tesla vehicles and dealerships across the United States having suffered multiple attacks.

Political Impact and Economic Concerns: Signals Investors Need to Watch

This protest carries significant political implications, as organizers and Democrats have leveraged Musk's unpopularity to motivate protesters and voters. Last Tuesday, Musk-backed candidate Brad Schimel suffered a crushing defeat in the Wisconsin Supreme Court race, which is widely viewed as a referendum on the controversial billionaire.

From an investment perspective, protesters are primarily concerned about the following points:

1. The negative impact of tariff policies on global supply chains and consumer prices

2. The severe damage to retirement accounts (401k) from the stock market crash

3. The potential long-term impact of federal agency cuts on research and infrastructure

Connor Hogan, a graduate student at the University of Pennsylvania, told the media that due to the Trump administration's cuts to funding for agencies like the National Institutes of Health (NIH), graduate admissions have decreased, and laboratories have lost funding support. "Federal funding from the NIH is like the lifeblood of biomedical research in the U.S.," said the 27-year-old Hogan. "Trump's cuts to this funding could set American healthcare back decades."

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