Economic slowdown fears grip US markets, Nasdaq sinks by 4%
1 week, 4 days ago

Economic slowdown fears grip US markets, Nasdaq sinks by 4%

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US stocks plunged on Monday as fears of an economic slowdown grew after President Donald Trump did not dismiss concerns that his tariffs could trigger a recession. Reuters US stocks tumbled on Monday over growing fears of an economic slowdown after President Donald Trump did not rule out the possibility of his tariffs causing a recession. The Nasdaq dropped 4.0 per cent, marking its biggest single-day loss since 2022, with tech stocks hit the hardest, whereas the S&P 500 fell 2.7 per cent, and the Dow Jones Industrial Average dropped 2.1 per cent. Industry leaders backs Trump: White House Earlier, White House spokesman Kush Desai said that “industry leaders” had backed Trump’s policies, including tariffs, by committing trillions in investments.

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