Market Beats | New York Earns Nearly $50 Million in Congestion Charges; Ken Griffin Purchases Manhattan Mansion; Musk Threatens to Fire Millions of Federal Employees; Tesla’s European Sales Plunge 45%; Apple Announces Plan to Hire 20,000 New Employees

1. Chinese Companies See Massive Drop in US Stock Prices

2. Ken Griffin Purchases Manhattan Mansion；

3. Musk Threatens to Fire Millions of Federal Employees；

4. Tesla’s European Sales Drop 45%；

5. Apple Announces Plan to Hire 20,000 New Employees；

6. Bitcoin Price Drops Below $90,000；

7. New York Earns $48.6 Million from Congestion Charges

1.  Chinese Companies See Massive Drop in US Stock Prices

This Monday, Chinese companies’ American Depositary Receipts (ADRs) experienced a significant decline on the US stock market. Alibaba’s stock dropped by 10%, marking the biggest decline since 2022. Companies like Bilibili and JD.com also saw drops of over 7%, and the Nasdaq Golden Dragon China Index fell by 5.2%.

Last weekend, former President Trump instructed the Committee on Foreign Investment in the United States (CFIUS) to limit Chinese investments in American technology and other strategic industries. Trump also plans to audit foreign companies listed in the US and scrutinize their ownership structures, which may have contributed to the stock market crash.

Evercore ISI’s macro analyst for China indicated that investor sentiment is currently “sell first, ask questions later,” and Trump may be attempting to increase his negotiating leverage with China.

Under the influence of DeepSeek, Chinese companies’ stocks had seen a dramatic surge earlier this year.

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2. Ken Griffin Purchases Manhattan Mansion

Sources revealed that Citadel founder Ken Griffin purchased a duplex apartment at 740 Park Avenue in Manhattan for $45 million. The previous owner was billionaire David Koch’s widow, Julia Koch.

The residence, built around 1930 and designed by Rosario Candela, is located about a mile from Citadel’s state-of-the-art office building.

Griffin already owns multiple luxury homes in Manhattan, including a $238 million penthouse near Central Park.

His new home spans 8,500 square feet and neighbors include Blackstone founder Stephen Schwarzman and other financial giants.

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3. Musk Threatens to Fire Millions of Federal Employees

Last week, Elon Musk sent an email to all federal government employees, asking each one what five tasks or jobs they had completed the previous week.

The US Office of Personnel Management advised employees to ignore Musk’s threat, but today Musk stated that employees who do not respond to the email will be fired.

Departments such as the US Department of Defense, FBI, and Department of Homeland Security have advised their staff not to respond to the email.

Musk’s goal is to quickly reduce the size and cost of the federal government, but his actions have met strong resistance from employee unions.

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4. Tesla’s European Sales Drop 45%

According to the latest data from the European Automobile Manufacturers Association, Tesla sold only 9,945 electric vehicles in Europe in January, a staggering 45% year-on-year decline. In contrast, the overall electric vehicle market saw a 37% increase in sales, highlighting the competitive pressure Tesla is facing.

Tesla is currently upgrading its production lines to increase the output of its best-selling Model Y.

In January, Tesla sold just 1,277 new vehicles in Europe, the lowest number since July 2021. Sales in France also plummeted by 63%.

In the UK, Tesla’s sales have been surpassed by BYD for the first time.

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5.  Apple Announces Plan to Hire 20,000 New Employees

This Monday, Apple announced plans to invest $500 billion in the United States over the next four years, including building production and logistics facilities in Houston and Michigan, and hiring 20,000 new employees. Apple stated that over the past five years, it has recruited over 20,000 R&D personnel.

A few days ago, Trump met with Apple CEO Tim Cook at the White House, where they may have discussed the impact of tariffs on Apple. Trump revealed that Cook had promised to invest billions of dollars to avoid certain tariffs.

Since most of Apple’s iPhones and other devices are manufactured in China, Trump’s tariffs would severely impact Apple’s profit margins.

Previously, Apple had used local investments in the US to secure tariff exemptions.

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6. Bitcoin Price Drops Below $90,000

Today, Bitcoin prices fell by as much as 6.1%, dropping below $90,000 for the first time since mid-November last year. Other popular cryptocurrencies such as Ethereum, XRP, and Solana also saw significant declines.

Since Trump took office in early January, Bitcoin has dropped nearly 20%, mainly due to Trump’s hardline fiscal policies and international relations, which have shaken investor confidence.

In the past 24 hours, $1.34 billion in long Bitcoin positions were liquidated.

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7. New York Earns $48.6 Million from Congestion Charges

The MTA of New York announced that from January 5 to January 31, the government collected $48.6 million in congestion charges in Manhattan.

Taxis and other ride-hailing services contributed about 20% of the revenue, with the rest coming from passenger vehicles, trucks, and other types of cars.

From January 5 to February 17, the number of cars entering Manhattan decreased by 10% to 2.6 million, significantly improving traffic flow.

MTA’s Chief Financial Officer, Jay Patel, had previously predicted the government could collect about $40 million per month in congestion fees.

Last month, the congestion fees brought in $37.5 million in profit after accounting for $9.1 million in operating costs and $2 million in reserves.

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This content is sourced from Financial Times, Bloomberg, and The Real Deal, among other financial news outlets.