Tesla shares fall following Trump's warning
A significant decline in the US stock market occurred following the president's reluctance to dismiss the possibility of a recession, during which he forecasted a ‘transition period’. Read Full Article at RT.com.
TroibNews 
A significant decline in the US stock market occurred after the president suggested the possibility of a recession and indicated a "transition period."
On March 10, Tesla, the electric vehicle manufacturer led by Elon Musk, experienced a staggering 15% drop in value amid a widespread sell-off in US stocks. This downturn was part of a larger trend; several key indexes suffered, with major technology companies taking the brunt of the losses.
For Tesla, Monday marked its steepest daily decline since 2020. This decline is part of a longer-term trend; the company's share price has plummeted by 50%, translating to a loss of over $800 billion in market value since its peak in December.
Michael Rosen, chief investment officer of Angeles Investment Advisors, discussed the market's instability in an interview with Bloomberg. He attributed it to President Trump's attempts to "break the international economic regime" in favor of a new system, which lacks clarity for investors. “Absent a clear idea of what ‘better’ is, investors are just left with the detritus of the broken global economic framework. Unless and until we see what replaces it, investors will be cautious, at best,” he predicted.
During a weekend interview with Fox News, Trump did not rule out the likelihood of a recession, stating, “there is a period of transition because what we’re doing is very big.” Nevertheless, he conveyed optimism that ultimately, “it should be great for us.”
In the previous month, Trump imposed 25% tariffs on imports from Canada and Mexico, along with 10% tariffs on goods from China. Although he has granted temporary reprieves, both Ottawa and Beijing have retaliated with their own tariffs.
Additionally, Tesla has faced ongoing challenges, including recent protests and arson attacks on its dealerships. On Monday, Musk accused ActBlue, a significant Democratic fundraising platform backed by billionaire George Soros and others, in a post on X.
On Tuesday, Trump expressed his support for Tesla via a message on his TruthSocial platform, alleging that “Radical Left Lunatics” are “trying to illegally and collusively boycott Tesla.” He further stated, “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk.”
Ramin Sohrabi contributed to this report for TROIB News
On March 10, Tesla, the electric vehicle manufacturer led by Elon Musk, experienced a staggering 15% drop in value amid a widespread sell-off in US stocks. This downturn was part of a larger trend; several key indexes suffered, with major technology companies taking the brunt of the losses.
For Tesla, Monday marked its steepest daily decline since 2020. This decline is part of a longer-term trend; the company's share price has plummeted by 50%, translating to a loss of over $800 billion in market value since its peak in December.
Michael Rosen, chief investment officer of Angeles Investment Advisors, discussed the market's instability in an interview with Bloomberg. He attributed it to President Trump's attempts to "break the international economic regime" in favor of a new system, which lacks clarity for investors. “Absent a clear idea of what ‘better’ is, investors are just left with the detritus of the broken global economic framework. Unless and until we see what replaces it, investors will be cautious, at best,” he predicted.
During a weekend interview with Fox News, Trump did not rule out the likelihood of a recession, stating, “there is a period of transition because what we’re doing is very big.” Nevertheless, he conveyed optimism that ultimately, “it should be great for us.”
In the previous month, Trump imposed 25% tariffs on imports from Canada and Mexico, along with 10% tariffs on goods from China. Although he has granted temporary reprieves, both Ottawa and Beijing have retaliated with their own tariffs.
Additionally, Tesla has faced ongoing challenges, including recent protests and arson attacks on its dealerships. On Monday, Musk accused ActBlue, a significant Democratic fundraising platform backed by billionaire George Soros and others, in a post on X.
On Tuesday, Trump expressed his support for Tesla via a message on his TruthSocial platform, alleging that “Radical Left Lunatics” are “trying to illegally and collusively boycott Tesla.” He further stated, “I’m going to buy a brand new Tesla tomorrow morning as a show of confidence and support for Elon Musk.”
Ramin Sohrabi contributed to this report for TROIB News
