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Stocks slump after Trump declines to rule out recession

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The Dow Jones Industrial Average fell 515 points, or 1.2% , while the S&P 500 declined 1.4% on Monday .

Tesla , the electric carmaker led by Elon Musk , sank nearly 6% .

The selloff extended a drop-off from the previous week amid uncertainty stoked by tariffs against Canada , Mexico and China .