Global markets plunged after US President Donald Trump declined to rule out a possible recession, triggering investor panic. The S&P 500 fell 2.7%—its steepest drop since December—while the tech-heavy Nasdaq tumbled 4% to a six-month low. The Dow Jones also sank 2%, marking its lowest close since Trump’s election.
Investor concerns intensified as US bond yields declined sharply, with the 2-year note yield dropping 10.4 basis points. Stocks across Asia and Europe mirrored Wall Street’s losses, with Japan’s Nikkei 225 down 2.5% and Europe’s STOXX 600 slipping 1.29%.
Major tech stocks, including Tesla, Nvidia, and Amazon, suffered significant losses. Meanwhile, oil and gold prices retreated, and bitcoin slid nearly 5%. Trump’s remarks, calling the US economy a “period of transition,” rattled investors, with analysts warning of prolonged volatility in global markets.
