US stocks register heavy falls as White House tries to talk up Trump tariffs

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%. The fall came a day after Trump skirted around questions about a potential recession on Sunday. Asked if he expected a recession, Trump said: "There is a period of…