It coincides with a bunch of other stuff, like hints at Tesla regulation, tariffs, and regular wild swings just from being Tesla.
Tesla is up 16% over 1 year, 185.44% over 5 years, beating the S&P 500. Not that I would ever hold Tesla, but still, it's not like Musk's wealth has evaporated.
CNBC is basically the Fox News of finance world. Big, sensationalist and basically to day trader hype (not the longer term buy-and-hold. You know, what the stock market is supposed to be). So maybe there's some cause and affect here, but I don't trust them on headlines like this.