Stock Market Today: Stocks tumble as Trump won't rule out recession risk
The S&P 500 is set to extend losses from its worst week since September.
U.S. stocks tumbled in early Monday trading, while the dollar extended its weeks-long slump and Treasury bonds rallied, as investors extended their retreat from risky markets amid broadening concerns that President Donald Trump's tariffs and cuts to government jobs could tip the world's biggest economy into recession.
Updated at 9:37 AM EST
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The S&P 500 was marked 80 points, or 1.43% lower in the opening minutes of trading, with the Nasdaq off 390 points, or 2.15%.
The Dow slumped 366 points while the mid-cap Russell 2000 fell 30 points, or 1.44%.
"There are always multiple forces at work in the market, but right now, almost all of them are taking a back seat to tariffs," said Chris Larkin, managing director for trading and investing at E*Trade from Morgan Stanley.
"The S&P 500 ended last week just a little more than 6% below its all-time high, but to many investors it probably feels like more, given the market is coming off its first three-week losing streak since last August," he added. "Until there’s more clarity on trade policy, traders and investors should anticipate continued volatility. This week’s inflation numbers will provide another test."
S&P 500 Opening Bell Heatmap (Mar. 10, 2025)$SPY -1.33%
