‘Bloodbath’: US stock market sheds $1.75tn after Trump’s recession remarks
Al Jazeera
Tech-heavy Nasdaq 100 plunges 3.81 percent, its steepest single-day loss since September 2022.
The United States’ stock market has shed more than $1.7 trillion in value after US President Donald Trump declined to rule out the possibility the economy could enter a recession this year.
The benchmark S&P 500 on Monday tumbled 2.7 percent, dragging the index nearly 9 percent below its all-time high reached on February 19.
The tech-heavy Nasdaq 100 plunged 3.81 percent, its steepest single-day loss since September 2022.
The losses, which follow two weeks of steep declines, mean that the S&P 500 and Nasdaq 100 are now at their lowest levels since September.
Tesla, the electric car company run by Trump’s cost-cutting tsar, Elon Musk, racked up some of the steepest losses among individual firms, plunging 15.43 percent.
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