U.S. Markets Plummet on Economic Slowdown Fears

U.S. stock markets experienced significant declines, with the S&P 500 dropping 2.7% and the Nasdaq falling 4% amid growing concerns over President Trump's tariff policies and their potential impact on the economy. Analysts fear that the ongoing uncertainty surrounding tariffs could trigger a recession, with Goldman Sachs increasing the likelihood of a downturn over the next year. The Dow Jones Industrial Average also saw a substantial drop, and major companies like Tesla and others in the tech sector were particularly hard-hit. Recent indicators suggest weakening economic conditions, including slowing job growth and potential negative GDP growth. In response to these fears, Trump described the current economic situation as a 'period of transition,' but his comments have not assuaged investor anxieties. The market's volatility is expected to continue, particularly as more economic data is released this week.