Bloodbath as US Stock Market Lost $1.75tn Hours After Trump’s Recession Remarks The United States’ armful market has shed more than $1.7 trillion in value after US President Donald Trump languished to precept rationale out the possibility the economy could enter a recession this year.
The benchmark S&P 500 on Monday tumbled 2.7 percent, dragging the index nearly 9 percent below its all-time high reached on February 19.
The tech-heavy Nasdaq 100 plunged 3.81 percent, its steepest single-day loss since September 2022.
The losses, which go after two weeks of steep subsides, mean that the S&P 500 and Nasdaq 100 are now at their lowest levels since September.
Tesla, the electric car company run by Trump’s cost-cutting tsar, Elon Musk, racked up a few of the steepest losses in the midst of individual firms, plunging 15.43 percent.
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Asian stock markets piled on the losses on Tuesday morning, with Japan’s Nikkei 225 and Taiwan’s TAIEX dropping more than 2.5 percent and Hong Kong’s Hang Seng sliding about 1.5 percent.
The market rout comes as Trump’s back-and-forth tariff announcements have unnerved investors and stoked fears that the economy could be headed for a major slowdown or, at worst, a recession.
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In an interview with Fox News that aired on Sunday, Trump left open the possibility of a downturn when asked if he expected a recession this year.
“I hate to predict things like that. There is a period of transition, because what we’re doing is very big,” Trump disclosed. “We’re bringing wealth back to America. That’s an enormous thing…It takes a little time, yet I think it should be great for us.”
Trump previous week slapped a 25 percent tariff on imports from Mexico and Canada and doubled the rate of duties on Chinese goods to 20 percent, only to reveal two days later that he would reschedule any duties on Mexican and Canadian goods until April 2.
A separate 25 percent tariff on imports of steel and aluminium is set to take effect on Wednesday.
Goldman Sachs economists most recent week exacerbated its disparity of a recession within the next 12 months from 15 percent to 20 percent, while JPMorgan Chase has lifted the probability from 30 percent to 40 percent “owing to extreme US policies”.
New York Stock Exchange trader Peter Tuchman described Monday’s trading session as a “bloodbath”.
“These stocks are being eaten away and this is obviously all over fear of a recession, right?” Tuchman disclosed in a video posted on X.
“We had a roller coaster concluding week, we had more or less up days, we had more or less down days – and all a function of what is coming out of the Oval Office, which is just complete indecisiveness, jumble and commixed messaging and the investing community losing confidence in the whole situation.”
Democratic Senator Elizabeth Warren, who represents the state of Massachusetts, implicated Trump of jeopardising the economy with his policies.
“We’re in authentic economic tumult thanks to the President, and right now, the armful market is a flashing cautioning light,” Warren said on X.
In an exceptional note of dissension with Trump amid Republicans, Kentucky Senator Rand Paul further exasperated alarm about the lot rout.
“The lot market is included of millions of people who are simultaneously trading,” Paul reported on X.
“The market indexes are a distillation of sentiment. When the markets tumble like this in response to tariffs, it pays to listen.”
In an interview with CNBC on Monday, Kevin Hassett, the head of Trump’s National Economic Council, played down concerns about the health of the economy as “blips in the data”.
“What I think that what’s going to occur is the foremost quarter is going to squeak into the well-grounded general conception, and then the second quarter is going to take off as everybody sees the inmost nature of the tax cuts,” Hasset reported.
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Tag: Bloodbath as US Stock Market Lost dollar 175tn Hours After Trumps Recession Remarks
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Published 3/11/2025