US stocks decline sharply as Trump tariffs concerns rise

U.S. stocks fell sharply on Monday, with the S&P 500 down 2.7%, the Dow Jones down 2%, and the Nasdaq down 4%. Tesla shares dropped 15%, marking its worst day since September 2020. The White House denied that Donald Trump's trade policies were causing economic chaos. Officials claimed the policies are creating jobs, citing a small increase in manufacturing jobs in February. Despite concerns about a potential recession, Trump and his administration continue to promote their trade policies. The Atlanta Federal Reserve's tracker suggests the economy may contract in early 2025, largely due to trade issues.