Day: 11 March 2025

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U.S. markets tumble as Trump and his administration dismiss stock slump and economic concern

U.S. stocks fall

The Elon Musk-led Department of Government Efficiency claims to be streamlining the federal government’s spending

But it has so far sown confusion, with the Trump administration attempting to rehire employees it had previously fired.

DOGE presents a distorted reflection of the current state of the U.S. economy. U.S. President Trump has implemented a series of policies to try to stimulate effect, frequently modifying them mid-course, resulting in collateral damage within the country’s own borders.

U.S. markets have been on a downward trend and were significantly impacted on. Tesla shares have lost some 50% since Trump’s election. Consumers are also boycotting Tesla vehicles.

Tariffs, according to Trump, are meant to protect U.S. businesses and punish trade partners. But so far, it seems that the world’s biggest economy is the one suffering.

Dismal day in the markets

U.S. stocks experienced a rout Monday 10th March 2025 as fears of a recession gripped investors. The S&P 500 dropped 2.7%, the Dow Jones Industrial Average lost 2.08% and the Nasdaq Composite sank 4% in its worst session since September 2022.

The White House downplayed the market slump, saying it’s not as ‘meaningful’ as business activity (what does that mean exactly)? 

Asia markets also retreated Tuesday 11th March 2025. Japan’s Nikkei 225 fell around 1% amid a weaker-than-expected showing for its fourth-quarter gross domestic product (GDP).

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Tesla shares plunge 15% in one day – X goes off -line and Space X test flight explodes

Tesla shares down 50%

Tesla’s sell-off on Wall Street intensified on Monday, with shares of the electric vehicle maker plunging a whopping 15%, marking their worst trading day on the market since September 2020

On Friday, Tesla wrapped up a seventh straight week of losses, its longest losing streak since debuting on the Nasdaq in 2010. The stock has fallen every week since CEO Elon Musk went to Washington, D.C., to take on a major role in the Trump ‘2’ White House.

Since peaking at $479.86 on 17th December 2024 Tesla shares have lost more than 50% of their value, wiping out upward of $800 billion in market cap. Monday 10th March 2025 marked the stock’s seventh worst day on record.

Tesla 3 month share chart as of close 10th March 2025 – down a total of 50% and 15% in one day

Tesla 3 month share chart as of close 10th March 2025 – down a total of 50% and 15% in one day

Tesla led a broader slump in U.S. equities, with the Nasdaq tumbling almost 4%, its steepest decline since 2022.

During an interview on Monday 10th March 2025, Musk was reportedly asked how he manages to run his businesses while fulfilling his role in the Trump White House. He reportedly said he’s doing so – ‘with great difficulty’.

In addition to Tesla’s troubles, Musk’s social network X experienced several outages throughout the day on Monday 10th March 2025, and his company SpaceX is investigating two explosions in a row that occurred during test flights of its massive Starship rocket.

Elon Musk is also reported as saying that he expects to remain in the Trump administration for another year. He posted on X that ‘It will be fine long-term’, referencing Tesla’s steep stock price decline.