Dow falls by almost 900 points in market rout after Trump says he won’t rule out a recession
1 week, 6 days ago

Dow falls by almost 900 points in market rout after Trump says he won’t rule out a recession

CNN  

New York CNN — US stocks plunged, bitcoin stumbled and Wall Street’s fear gauge hit its highest level this year as concerns about President Donald Trump’s economic policy led to a widespread market selloff on Monday. “President Trump’s comments not necessarily taking a recession off the table unnerved investors who were already unnerved,” said Anthony Saglimbene, chief market strategist at Ameriprise. “Since President Trump was elected, industry leaders have responded to President Trump’s America First economic agenda of tariffs, deregulation, and the unleashing of American energy with trillions in investment commitments that will create thousands of new jobs,” White House spokesman Kush Desai said in a statement. “President Trump delivered historic job, wage, and investment growth in his first term, and is set to do so again in his second term.” Tesla erases post-election gains Tesla closed down 15.4% on Monday. The National Bureau of Economic Research’s Business Cycle Dating Committee, the official arbiters, says a recession “involves a significant decline in economic activity that is spread across the economy and lasts more than a few months.” “How long this period of investor caution persists depends on how quickly it will take the global trade clouds, and the resulting threat of recession, to dissipate,” said Sam Stovall, chief investment strategist at CFRA Research, in a note Monday.

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