US shares fell sharply again on Monday amid uncertainty in the American economy, with President Donald Trump refusing to rule out a recession.
Tesla shares plunged by at least 15% to $222 – meaning it has lost more than half its value since its peak at $479.86 on 17 December.
The tech-heavy Nasdaq Composite closed down more than 4% on Monday – its biggest daily percentage drop since September 2022 – while the S&P 500 slumped about 2.7% – its biggest drop since 18 December.
Airlines and other companies that need US shoppers feeling confident enough to spend also saw sharp losses. Bitcoin fell below $79,000 from more than $100,000 in December.
It comes amid US trade fights with Canada and Mexico through on-off tariffs of up to 25%.
China has also been targeted and the European Union could be next, from 2 April, when Mr Trump has promised to ramp up his “America first” ambitions.
Asked directly in a Fox News interview on Sunday whether he was expecting a recession, Mr Trump did not deny the possibility.
He said: “I hate to predict things like that. There is a period of transition because what we’re doing is very big, we’re bringing wealth back to America. That’s a big thing. And there are always periods of – it takes a little time. It takes a little time.”
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