Shares of Tesla had been on a tear since Donald J. Trump won the presidential election. Investors were betting that the carmaker would benefit from the more than $250 million that its chief executive, Elon Musk, spent to support the Trump campaign. But an 8 percent decline in Tesla’s stock on Tuesday all but wiped out what was left of that rally. Investors who once thought that Mr. Trump could help clear regulatory hurdles for Tesla autonomous driving technology have grown concerned that Mr. Musk is spending too much time in Washington while Tesla sales plummet. They also worry that Mr. Musk’s immersion in right-wing politics, including his endorsement of a far-right party in German elections on Sunday, is alienating significant numbers of buyers.
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