The US stock market has suffered a dramatic plunge following President Donald Trump’s refusal to rule out a recession.
The Dow Jones Industrial Average dropped more than 1,100 points in a single day.
The S&P 500 fell 3.3 per cent, marking its worst decline in two years.
Meanwhile, the tech-heavy Nasdaq Composite led the selloff, tumbling 4.8 per cent in its biggest drop since September 2022.
The US stock market has suffered a dramatic plunge following President Donald Trump’s refusal to rule out a recession
Reuters
The president described the current economic situation as “a period of transition”.
He notably refused to rule out the possibility of a recession. This lack of reassurance from the White House has fuelled market fears about economic stability.
Tariffs of up to 25 per cent hitting Canada, Mexico and China last week have raised concerns about economic growth.
Analysts believe these trade tensions are a significant factor behind the current market volatility.
The sudden shifts in tariff implementation have created uncertainty for businesses and investors alike.
With that in mind, do you think Donald Trump’s tariffs will spark a global recession? Have your say by voting in the poll below.