The Dow Jones Industrial Average has lost more than 1,000 points as it nears one of its worst ever days and recession fears mount.
The U.S. stock market is heading toward its worst day since 2022 following President Donald Trump’s trade tariff chaos with Canada, Mexico and other nations.
Nasdaq suffered the most, tanking 4.2 percent, on course for its biggest single-day percentage drop since September 2022, Reuters reports. The S&P 500 was down as much as 3 percent in afternoon trading, coming off its worst week since September.
On the day of Trump’s reelection last November, the stock market enjoyed a boost. But now, all three major indexes are below their levels on November 5, 2024.
Trump did not rule out a recession in remarks over the weekend and said it was a “period of adjustment.”
Canada’s most populous province, Ontario, has retaliated against Trump’s tariffs by imposing a 25 percent tax on energy to three U.S. states – New York, Minnesota and Michigan.
This is a breaking story.
