Trump defended his trade policies, saying, “It’s a period of transition. We’re bringing wealth back to America.” (AP) The US stocks plunged on Monday after the US President Donald Trump’s statements that the economy is in a “period of transition” amid escalating trade tensions. Investors feared that his aggressive tariff policies on Canada, Mexico, and China could push the US into recession, leading to widespread uncertainty in financial markets. What happened to tech stocks? Technology stocks were hit hardest in the US market. The Nasdaq Composite suffered its worst day since 2022, tumbling 4%. Tesla shares plummeted 15.4%, while AI…