ExclusiveMarkets Plunge Over Recession Fears

Stocks slid Monday as concerns about the US economy tipping into a recession grew. The Dow gave up nearly 900 points, the S&P 500 fell 2.7% and the Nasdaq Composite tumbled 4%, as shares of big tech companies extended their sell-off. President Donald Trump over the weekend refused to rule out the US entering a recession this year, saying there could be a period of transition instead. Let me stay on the economy for a moment because there are rising worries about a slowdown. You've got the Atlanta Federal Reserve saying we're going to have a contraction in the first quarter. Look, I know that you inherited a mess and you said that the other night. But are you expecting a recession this year? I hate to predict things like that. 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. And there are periods of, it takes a little time. Mike Muscio, the president of FBB Capital Partners, said that the markets continued to sell off in the wake of additional and continued uncertainty around what the Trump tariff. I think the speed with which the market is reassessing probabilities around recession is directly linked with the two things. One, uncertainty around tariffs and what the impact may have on inflation and just the general economic outlook. And then two, there's a bit of a growth scare that's going on at the same time. If you look at GDP growth in the fourth quarter, which was 2.5% plus, right now GDP now, which is kind of a real cast, a now cast forecast, it's not a forecast, a now cast existing of what's happening in the economy, that number is like a negative 2.5% right now.