🌏 Tesla’s bad month

Good morning, Quartz readers!

Here’s what you need to know

Tesla stock had a very bad month. The EV giant’s share price fell 28% in February, its second-worst performing month ever.

Nvidia lost its $3 trillion club card. Despite another record quarter, the tech giant fell out of the $3 trillion market cap club on Thursday.

Meanwhile, tech stocks can’t escape the market’s anxiety. They are being weighed down by weaker U.S. consumer spending and fears over Trump’s tariffs.

Pfizer made some DEI changes. The pharma giant edited its diversity and inclusion page to emphasize “merit,” as it aligns closer with the Trump administration.

Eli Lilly launched a new ad campaign. The new ads warned consumers about off-brand versions of its popular weight-loss drugs.

Citigroup made a big mistake. The bank accidentally credited $81 trillion to a customer’s account and took hours to reverse the transaction.

Starbucks says goodbye to these drinks

Starbucks is slimming down its menu to speed up service and boost sales.

Starting March 3, the coffee giant will cut 13 drinks, a company spokesperson told Quartz via email. It’s all part of a broader “Back to Starbucks” initiative aimed at simplifying operations. By September 2025, about 30% of select food and drink items will be permanently dropped to make way for new offerings.

Which drinks are being cut? Quartz’s Francisco Velasquez has the details.

DOGE could bite the U.S. economy

Elon Musk’s Department of Government Efficiency (DOGE) could gradually slow government spending, job growth, and the broader economy, according to Bank of America.

So far, DOGE’s impact has been modest, but its drag on the economy is expected to build over time, wrote Economists Stephen Juneau and Shruti Mishra in a report on Friday. They predict that the government could reduce its headcount this fiscal year by 200,000.

How bad could things get? Quartz’s Josh Fellman breaks it down.

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