Trump supported Musk and 'advertised' the new Tesla in the White House yard.

The President of the USA showcased the new Tesla Model S in the yard of the White House

President Donald Trump decided to showcase his new Tesla Model S in the yard of the White House. This information was reported by Glavcom citing Trump's briefing.

According to previously obtained information, Trump planned to buy the new car to show his support for Tesla founder Elon Musk. Today, March 11, he presumably demonstrated exactly this vehicle.

The President stated at the briefing: 'I am not allowed to drive, because I haven't done it for a long Time. I love driving a car. However, I will have a car in the White House, and I will let my staff use it.'

During the car testing, Trump noted: 'It is very innovative, and everything in it is wonderful.'

'Firstly, it is a fantastic product - the best that can be, and secondly, Elon Musk has dedicated his energy and his life to it, and I think he is treated very unfairly,' Trump stated.

Later, Elon Musk added that thanks to Trump's 'great policy' and his administration, as well as demonstrating faith in America, Tesla will double its car production in the United States over the next two years.

Recall that Trump stated he intended to buy a new Tesla to support the head of the Department of Efficiency of Public Administration, Elon Musk.

This unfortunate information made Tesla's shares lose 15% of their value, the largest single-day decline in the last four years. Analysts link this to a revision of supply forecasts, as well as growing negative reactions to Musk's political stance.

After the revision of supply forecasts, Tesla's stock fell. According to Bloomberg's billionaire index, Elon Musk's fortune has decreased by more than $132 billion since the beginning of the year.

It is known that the American stock market had its worst day of the year, especially in the technology sector. The total capitalization of companies included in the NASDAQ 100 index fell by $1 trillion during the day.

Problems in the stock market arose after the U.S. President declined to avoid the risk of recession in an interview with Fox News. He stated that a transitional period for the American economy has begun, during which tariffs on imports will come into effect.