Jason Katz, UBS Managing Director and Senior Portfolio Manager, discusses whether the US economy is in a “Varney & Co.” recession.
US stocks fell on Monday over concerns about the impact of President Donald Trump Tariff Investors on Economic Growth.
Dow Jones' industrial average is 961 points (2.25%); Nasdaq Composite and S&P 500 There was a decrease of 4.3% and 2.95%, respectively. The technology-rich Nasdaq is on track for its worst day since September 2022. The S&P 500 has been having its worst day since mid-December.
Trump on Sunday refused to explicitly rule out a full-scale recession in the US economy this year, and Maria Bartilomo said in a “Sunday Morning Futures” exclusive interview he would see a “transition period” as his policies take effect.
Trump says he will go through a “transition period” when asked if the economy can see a recession this year
President Donald Trump will speak to members of the South Lawn media before riding a Marine at the Washington, D.C. White House on February 28th. (Reuters/Nathan Howard/Reuters)
“I hate predicting such things,” he said of the recession. “What we're doing is so big, so there's a transition period. 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.”
Trump praises “real patriot” Elon Musk.
Dow Jones Industrial Average
Financial markets are becoming unstable as signs of rising trade tensions and slowing US economic growth have been heavy on consumer trust and business activities. Investors are tackling trade where new policies from the new Trump administration, particularly back and forth between tariff policies, has increased uncertainty among businesses, consumers and investors.
| Ticker | safety | last | change | change % |
|---|---|---|---|---|
| I: DJI | Dow Jones average | 41955.28 | -846.44 |
-1.98% |
| SP500 | S&P 500 | 5618.01 | -152.19 |
-2.64% |
| I:comp | Nasdaq Composite Index | 17489.608844 | -706.61 |
-3.88% |
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The abundant and precious US tech stocks are bearing the brunt of a recent sale on Wall Street.
“Selling the US market is beginning to look ugly,” said Dan Courtworth, an investment analyst at AJ Bell. “For some time, many have been worried about rising valuations among US stocks and are looking for a catalyst for market correction. A combination of trade wars, geopolitical tensions and concerns about uncertain economic outlooks may be that catalyst.”
Taylor Penley and Reuters of Fox Business contributed to this report.
