US Markets Plunge, Nasdaq 100 Loses $1 Trillion

U.S. stock markets have experienced significant declines, with the S&P 500 dropping 2.7% and the Nasdaq 100 plunging 3.8%, following President Trump's ambiguous remarks regarding the possibility of a recession this year. Investors reacted negatively to Trump's recent tariff announcements, which have exacerbated fears of an economic slowdown and led economists to raise recession probabilities, with JPMorgan Chase estimating a 40% chance. Notably, Tesla shares fell 15%, marking their worst day since 2020, amid concerns about competition and declining sales. The broader market downturn wiped out more than $1 trillion in value from the tech sector alone, with many major tech stocks suffering substantial losses. Analysts suggest that the shift in sentiment among investors reflects growing anxiety about the impact of trade policies and inflation on economic growth. The downturn has led to a broader sell-off, particularly in technology, with investors moving toward more defensive sectors.