A trader on the floor of the New York Stock Exchange (NYSE) at the opening bell in New York City on March 10, 2025.
U.S. stock markets experienced a significant decline on Monday, recording the worst trading day of the year as investor concerns regarding tariffs and the looming threat of a recession escalated.
Following a tumultuous week filled with uncertainty over the potential impact of new tariffs, Wall Street was left grappling with the abrupt policy shifts from President Trump.
At the close of last week, major U.S. indices had recorded losses exceeding 2%, with the S&P 500 suffering a 3.1% drop, marking its largest weekly decline since September.
During a weekend interview, Trump acknowledged the possibility of a recession, further unsettling the market.
“I hate to predict things like that,” Trump stated. “There is a period of transition because what we’re implementing is substantial. We’re focused on bringing wealth back to America.”
In a stark contrast, Commerce Secretary Howard Lutnick asserted during an interview that he believed there was “no chance” of a recession.
However, by midday on Monday, U.S. investors were reacting with apprehension. The Dow Jones Industrial Average fell by 890 points, a nearly 2.1% decrease. The S&P 500 declined by 2.7%, while the tech-laden Nasdaq experienced a steep drop of 4%.
