Economic conditions & trends

Markets Tumble as US Trade Policies Spark Recession Fears

Published MAR 10 2025

Story

Image credit: Spencer Platt/Staff/Getty Images News via Getty Images

The Facts

The tech-heavy Nasdaq led a broad market selloff on Monday, while the S&P 500 dropped and marked its worst performance of 2025, extending its decline from recent highs.
Wsj
Market Screener
MINT
Pres. Donald Trump's weekend comments about a "period of transition" in the economy and refusal to rule out a recession in 2025 during a Fox News interview intensified market concerns about his administration's trade policies.
Market Watch
Quartz
CBS News
Major technology stocks faced significant pressure, with Tesla dropping sharply, while other "Magnificent Seven" companies — including Nvidia and Meta Platforms — declined and led to a broader market selloff.
Investopedia
The Columbian
Dow Jones futures fell, while the yield on 10-year Treasury bonds also dropped. The WSJ Dollar Index hovered near its lowest level since early November.
Wsj
Bloomberg.com
MINT
Meanwhile, Goldman Sachs downgraded its 2025 economic growth forecast from 2.4% to 1.7%, citing stronger headwinds from the administration's trade policies and expectations of higher average US tariff rates.
Yahoo! News
CBS News
This comes as Chinese retaliatory tariffs — after the Trump administration doubled tariffs on Chinese imports last week to 20% — on American farm products, including a 15% levy on US chicken and a 10% tax on fruit, took effect Monday.
The New York Times
FOX News

Sources Split

LEFT

CENTER

RIGHT

ESTAB
CRIT

CENTER

PRO
ESTAB

The Spin

Pro-establishment narrative

The Trump administration's aggressive trade policies and government restructuring are necessary to bring manufacturing back to America and create long-term economic prosperity despite short-term market volatility and transition periods.

FOX News

CNBC

Establishment-critical narrative

The unpredictable implementation of tariffs and economic policies is creating unnecessary market uncertainty, potentially triggering a recession and undermining the strong economic foundation built over recent years.

Yahoo! News