Milan, 10 Mar. (LaPresse/AP) – Wall Street opens sharply lower after President Donald Trump acknowledged yesterday in an interview aired on Fox News Channel that his plans could affect U.S. economic growth in the short term, although he does not foresee a recession this year. The S&P 500 fell 1.46% to 5,686.08 points, the Nasdaq 1.96% to 17,840.32 points and the Dow Jones 0.69% to 42,507.65 points. Trump said his plan to bring wealth back to America ‘takes a little time’. Also over the weekend, Commerce Secretary Howard Lutnick told NBC's ‘Meet the Press’ that the 25% tariffs on steel and aluminium imports will go into effect on Wednesday. The White House's surprise actions on tariffs – first imposing them on trading partners, then exempting some and then redoing them – have increased uncertainty for businesses. This has sparked fears that companies may freeze up in response to what they have described as ‘chaos’ and cut back on hiring. In pre-market equity trading, Redfin rose 76.5% after Rocket Companies said it would acquire the online real estate platform for $1.75 billion. Rocket, a Detroit-based financial technology platform that includes mortgage, real estate and personal finance businesses, fell about 11%. Tesla shares continued to lose ground, falling another 2.7% in the pre-market. Apple shares fell 1.5% after the iPhone maker confirmed it would delay the update of its Siri personal assistant until 2026.