The benchmark S&P 500 has fallen over 8 per cent from its February high.
New York, US:
Stock markets around the world experienced significant declines following a sell-off in the US, sparked by President Donald Trump’s refusal on Monday to dismiss concerns that his tariffs could lead to a recession in the world’s largest economy. In New York, the tech-heavy Nasdaq saw its worst day since 2022, plummeting 4 per cent to a near six-month low.
The benchmark S&P 500 has dropped more than 8 per cent from its February peak. The Nasdaq officially entered correction territory last week, having fallen over 10 per cent from its all-time high in December.
This comes after Trump, in a Sunday interview, avoided making any predictions about whether the US could face a recession. Investors are growing increasingly worried that his inconsistent trade policies toward Mexico, Canada, and China could weaken consumer demand and corporate investment.
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