US Stock Market Suffers Major Blow Amid Recession Fears
The US stock market suffered a major blow, losing over $1.7 trillion in value after Donald Trump refused to rule out a potential recession in 2025.
The S&P 500 dropped 2.7%, while the Nasdaq 100 plunged 3.81%, marking its worst single-day loss since 2022. Tesla was among the hardest-hit stocks, plummeting 15.43%.
Asian markets also reacted negatively, with Japan’s Nikkei 225 and Taiwan’s TAIEX falling over 2.5%, while Hong Kong’s Hang Seng slid 1.5%.
The sell-off follows weeks of market turbulence triggered by Trump’s shifting tariff policies, which have increased economic uncertainty. Analysts at JPMorgan raised the probability of a recession to 40%, citing “extreme US policies.”
Meanwhile, European markets rebounded slightly, buoyed by increased defense spending plans amid Trump’s wavering support for NATO.
Despite the turmoil, Trump claimed that the economy is in a “period of transition” and asserted that his policies will bring back wealth to America.
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