Tesla tech billionaire Elon Musk is stepping down as one of US President Donald Trump's top advisers, according to a media report.

Trump has informed his inner circle of advisers that Musk will be leaving in the coming weeks, Politico magazine reported.

Influential groups of the president increasingly see the billionaire as political baggage. The report caused euphoria on the stock market, and Tesla's share price rose significantly on Wall Street on Wednesday.

This crash tour has stopped for now

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