Updated March 10, 2025 at 18:46 PM ET
U.S. stock markets on Monday, marking the worst day of the year, as investors grew increasingly fearful about tariffs — and a potential recession.
Wall Street was already coming off a volatile, negative week digesting the potential impact of new U.S. tariffs — and from how President Trump has implemented, and then delayed, some of them.
By the end of last week, the major U.S. indices had each dropped by more than 2% for the week. The S&P 500 fell 3.1% — its largest decline since September.
Then, in a weekend interview with Fox News, Trump the possibility of a recession.
"I hate to predict things like that," Trump told Fox News. "There is a period of transition, because what we're doing is very big. We're bringing wealth back to America."
In contrast, Trump's Commerce Secretary, Howard Lutnick, told that there was "no chance" of a recession.
But by midday Monday, U.S. investors appeared more worried than reassured.
The Dow slumped 890 points, or nearly 2.1%. The S&P 500 fell by 2.7%, while the tech-heavy Nasdaq slumped 4%.
Copyright 2025 NPR
