Elon Musk’s Twitter Deal Collided With Market and Economic Tumult

Elon Musk’s timing with Twitter turned out to be terrible.

When the world’s wealthiest man started buying shares in his favorite social-media platform on Jan. 31, tech stocks were only a little more than 10% off their all time highs, and talk of a recession was still largely out over the horizon. By the time Mr. Musk told Twitter on Friday that he wanted out of the $ 44 billion takeover he had agreed to, the Nasdaq Composite Index was deep into bear-market territory, inflation was at levels not seen in decades, and Russia had launched an all-out assault on Ukraine, further roiling markets.

Leave a Comment