US stocks register heavy falls as White House tries to talk up Trump tariffs
Dow, S&P 500 and Nasdaq all down by at least 2% and Tesla shares fall 15% for worst day since September 2020
The US stock market continued to drop on Monday as the White House denied that Donald Trump’s trade policies were causing lasting chaos within the economy.
The S&P 500 fell 2.7%, the Dow Jones dropped 2%, and the tech-heavy Nasdaq dropped 4% as investors sold shares in the so-called “magnificent seven” – Alphabet, Amazon, Apple, Microsoft, Meta, Nvidia and Tesla. Tesla’s shares had their worst day since September 2020, falling 15%.
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