Dow Tumbles Nearly 900 Points, Nasdaq Suffers Worst Day Since 2022
Dow Tumbles Nearly 900 Points, Nasdaq Suffers Worst Day Since 2022
U.S. stocks tumbled on Monday, with concerns about the effects of President Donald Trump’s tariffs on economic growth spooking investors.
The Dow Jones Industrial Average fell 890.01 points, or 2.08%, while the Nasdaq Composite and S&P 500 slid 4% and 2.69%, respectively. The Dow and the S&P 500 saw their worst day since Dec. 18; the tech-heavy Nasdaq had its worst day since September 2022.
Trump on Sunday declined to explicitly rule out a full-blown recession for the U.S. economy this year, telling Maria Bartiromo in a "Sunday Morning Futures" exclusive interview that the country will see a "period of transition" as his policies take effect.
"I hate to predict things like that," he said of a recession.
"There is a period of transition because what we're doing is very big. We're bringing wealth back to America. That's a big thing… it takes a little time, but I think it should be great for us."
Financial markets have been volatile in recent weeks as rising trade tensions and signs of slowing U.S. economic growth weighed on consumer confidence and business activity.
Investors are grappling with a barrage of new policies from the new Trump administration, particularly in trade where back and forth on tariff policy has increased uncertainty for businesses, consumers and investors.
"The U.S. market sell-off is starting to look ugly," said Dan Coatsworth, an investment analyst at AJ Bell.
"Many people have been worried about elevated valuations among U.S. equities for some time and looking for the catalyst for a market correction. A combination of concerns about a trade war, geopolitical tensions and an uncertain economic outlook could be that catalyst."
Richly valued U.S. tech stocks have borne the brunt of the recent selloff on Wall Street.
"The narrative changes on a daily basis around tariffs – that's what causing all this uncertainty," said Art Hogan, chief market strategist at B Riley Wealth.
"The damage around markets that has everything to do with sentiment is reflected more in the Nasdaq, because technology stocks are certainly more influenced by risk sentiment."
Leo XIV Is the New Pope
May 8, 2025
5 min
Trump Considers Jeanine Pirro to Replace Ed Martin as Top DC Prosecutor
May 8, 2025
2 min
FBI Opens Criminal Investigation of Letitia James
May 8, 2025
2 min
Texas AG Paxton Announces Vote Fraud Charges Against 6 People
May 8, 2025
1 min
Trump Announces Trade Deal with UK
May 8, 2025
1 min
Pakistan ‘Kills’ 50 Indian Soldiers in Retaliation Strikes
May 8, 2025
4 min
Bill Gates Accuses Elon Musk of ‘Killing’ Children with USAID Cuts
May 8, 2025
3 min
Trump Plans Executive Order to Slash Drug Prices
May 8, 2025
2 min
Trump to Announce Trade Deal with UK Thursday
May 8, 2025
3 min
Trump to Remove Biden-Era Chip Export Restrictions
May 8, 2025
3 min
Pro-Palestinian Protesters Take Over Columbia University Library — 80+ Arrested
May 8, 2025
5 min
Iranian Terror Cell Plotted Attack on Israeli Embassy in London
May 8, 2025
3 min
Putin and Maduro Sign Strategic Partnership Treaty in Moscow
May 8, 2025
<1 min
Ex-Porn Star Who Claimed He’s Diddy’s Sex Slave Signed $5M NDA
May 8, 2025
4 min
AG Bondi: Tens of Thousands of Videos of Epstein with Children, Child Porn
May 7, 2025
2 min
FBI Arrests 200+ Child Sex Predators
May 7, 2025
2 min
Pakistan Authorizes Military Response After India Strikes
May 7, 2025
5 min
Fed Holds Rates Steady — Warns of Stagflation
May 7, 2025
3 min
2nd Navy Jet Falls Into Red Sea from Truman Aircraft Carrier
May 7, 2025
3 min
Black Smoke Over Vatican Signal No Pope Elected on 1st Day
May 7, 2025
4 min