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https://edition.cnn.com/2025/03/10/investing/us-stocks-drop-after-trump-says-he-...
The Dow closed lower by 890 points, or 2.08%,
pulling back from a loss of more than 1,100 points at one point.
The broader S&P 500 also plunged, dropping by 2.7%,
while the tech-heavy Nasdaq Composite plummeted 4%.
The Dow and S&P 500 each posted their worst day of the year. The Nasdaq posted its biggest single-day decline since September 2022.
The rout extended a miserable month for markets that has seen all three major indexes wipe out their gains since the US presidential election in November.
The widespread selloff was mostly driven by anxiety about the impact of Trump’s tariffs. In an interview that aired Sunday, Trump said the US economy would see “a period of transition” and refused to rule out a recession.
When asked on Fox News’ “Sunday Morning Futures With Maria Bartiromo” if he was expecting a recession this year, Trump said “I hate to predict things like that. There is a period of transition because what we’re doing is very big.”
Tech stocks led the selloff, weighing on the S&P 500 and dragging the Nasdaq into correction territory. The S&P 500 closed down 8.6% from its record high on February 19.
The “Magnificent Seven” of tech stocks — Alphabet (GOOG), Amazon (AMZN), Apple (AAPL), Meta (META), Microsoft (MSFT), Nvidia (NVDA) and Tesla (TSLA) — were all in the red on Monday.
“President Trump’s comments not necessarily taking a recession off the table unnerved investors who were already unnerved,” said Anthony Saglimbene, chief market strategist at Ameriprise.
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Share market crash this morning. (Read 7558 times)
