The rout on Wall Street steepened Monday afternoon as US stocks plunged and the Dow fell 1,000 points — its largest single-day decline since December.

In an interview that aired Sunday, the president demurred when asked if there were reassurances he could provide to businesses seeking more clarity on tariffs.

President Trump refused to rule out the possibility that his economic policies, including aggressive tariffs, could lead to a recession. In an interview with Fox News, he acknowledged a “period of transition” but insisted that his policies would ultimately benefit the economy.