US, Asia Stocks Slide Amid Economic Slowdown Fears

Stock markets in the US and Asia have experienced significant declines amid growing concerns about a potential recession linked to President Donald Trump's trade policies. Following Trump's remarks about a 'period of transition' in the economy, investors have reacted negatively, leading to sharp drops in major indices, including a 4% fall in the NASDAQ. Asian markets mirrored this sentiment, with Japan's Nikkei 225 and South Korea's KOSPI both reporting substantial losses. Trump's failure to dismiss recession fears during a recent interview has compounded market anxieties, as investors grapple with the implications of his tariffs on trade relations. The economic landscape is further complicated by deflationary pressures in China, which heighten worries about global growth. Analysts suggest that the persistent uncertainty surrounding Trump's economic strategies is causing a defensive mindset among traders.