Tue Mar 11 05:19:41 UTC 2025: ## Global Markets Plunge After Trump’s Recession Remarks
**New York, NY** – Global markets experienced a sharp selloff on Monday, triggered by US President Donald Trump’s refusal to rule out a recession in the US economy. The comments, made during a Fox News interview, sent shockwaves through Wall Street, wiping out trillions in market value and causing the worst day for the Nasdaq since 2022.
The tech-heavy Nasdaq plummeted 4%, its largest single-day percentage decline in months, confirming a correction that began last week. The S&P 500 fell 2.7%, its lowest closing level since September, representing an over 8% drop from its February high and a loss of $4 trillion from its peak. The Dow Jones Industrial Average also suffered a significant drop of 2%.
The sell-off wasn’t confined to the US. Asian markets opened sharply lower on Tuesday, mirroring the previous day’s losses in New York. Japan’s Nikkei 225 fell 2.5%, South Korea’s Kospi dropped 2.3%, and Australia’s S&P/ASX 200 declined by 1.8%. India’s Nifty 50 and Sensex also opened lower. The pan-European STOXX 600 index ended down 1.29%.
Major tech stocks bore the brunt of the decline. Tesla shares plummeted 15.4%, Nvidia fell over 5%, and other giants like Meta, Amazon, and Alphabet also experienced steep losses.
Bond yields fell as investors sought safe havens, reflecting concerns about the potential economic slowdown. The yield on the 2-year US Treasury note fell significantly, its largest daily drop since September. The 10-year and 30-year Treasury yields also decreased.
The dollar weakened against the Japanese yen, while the euro and sterling also declined. Oil prices dropped due to tariff uncertainty and increased OPEC+ production, although potential Iranian sanctions limited the losses. Gold prices also fell, despite safe-haven demand. Bitcoin experienced a significant drop, falling below its November low.
Trump’s remarks, while acknowledging recession concerns, attributed the potential downturn to a period of transition linked to his economic policies. White House officials attempted to downplay the market reaction, emphasizing the divergence between market sentiment and the underlying strength of the business sector. However, Trump’s silence following the market plunge added to investor anxieties.
Market analysts cited Trump’s comments as a key factor driving the sell-off, highlighting a shift in perception regarding the administration’s tolerance for market declines and a possible recession to achieve broader policy goals. The perceived lack of a “Trump put” – the belief that the President would intervene to support the market – further contributed to the negative sentiment.
First Piper 