UBS managing director and senior portfolio supervisor Jason Katz discusses whether or not the U.S. economic system is on the point of a recession on ‘Varney & Co.’
U.S. shares tumbled on Monday on considerations about the results of President Donald Trump’s tariffs on financial progress spooked buyers.
The Dow Jones Industrial Common fell 961 factors, or 2.25%, whereas the Nasdaq Composite and S&P 500 have been down 4.3% and a couple of.95%, respectively. The tech-heavy Nasdaq is on monitor for its worst day since September 2022; the S&P 500 is having its worst day since mid-December.
Trump on Sunday declined to explicitly rule out a full-blown recession for the U.S. economic system this 12 months, telling Maria Bartiromo in a “Sunday Morning Futures” unique interview that the nation will see a “period of transition” as his insurance policies take impact.
TRUMP SAYS US WILL EXPERIENCE ‘PERIOD OF TRANSITION’ WHEN ASKED IF ECONOMY COULD SEE A RECESSION THIS YEAR
President Donald Trump speaks with members of the media on the South Garden earlier than boarding Marine One on the White Home in Washington, D.C. on Feb. 28. (Reuters/Nathan Howard / Reuters)
“I hate to predict things like that,” he mentioned 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.”
TRUMP PRAISES ‘REAL PATRIOT’ ELON MUSK FOR ‘OPENING A LOT OF EYES’ WITH DOGE
Dow Jones Industrial Common
Monetary markets have been unstable in latest weeks as rising commerce tensions and indicators of slowing U.S. financial progress weighed on shopper confidence and enterprise exercise. Traders are grappling with a barrage of recent insurance policies from the brand new Trump administration, significantly in commerce the place forwards and backwards on tariff coverage has elevated uncertainty for companies, customers and buyers.
Ticker Safety Final Change Change % I:DJI DOW JONES AVERAGES 41868.59 -933.13
-2.18%
SP500 S&P 500 5606.3 -163.90
-2.84%
I:COMP NASDAQ COMPOSITE INDEX 17442.091913 -754.13
-4.14%
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Richly valued U.S. tech shares have borne the brunt of the latest selloff on Wall Road.
“The U.S. market sell-off is starting to look ugly,” mentioned Dan Coatsworth, an funding 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.”
FOX Enterprise’ Taylor Penley and Reuters contributed to this report.
