UBS managing director and senior portfolio supervisor Jason Katz discusses whether or not the U.S. financial system is getting ready to a recession on ‘Varney & Co.’
U.S. shares tumbled on Monday on issues about the consequences of President Donald Trump’s price lists on monetary expansion spooked traders.
The Dow Jones Commercial Moderate fell 961 issues, or 2.25%, day the Nasdaq Composite and S&P 500 had been i’m sick 4.3% and a pair of.95%, respectively. The tech-heavy Nasdaq is not off course for its worst generation since September 2022; the S&P 500 is having its worst generation since mid-December.
Trump on Sunday declined to explicitly not include a full-blown recession for the U.S. financial system this date, telling Maria Bartiromo in a “Sunday Morning Futures” unique interview that the rustic will see a “period of transition” as his insurance policies remove impact.
TRUMP SAYS US WILL EXPERIENCE ‘PERIOD OF TRANSITION’ WHEN ASKED IF ECONOMY COULD SEE A RECESSION THIS YEAR
President Donald Trump speaks with contributors of the media at the South Garden prior to boarding Marine One on the White Area in Washington, D.C. on Feb. 28. (Reuters/Nathan Howard / Reuters)
“I hate to predict things like that,” he stated 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 Commercial Moderate
Monetary markets were risky in contemporary weeks as emerging business tensions and indicators of slowing U.S. monetary expansion weighed on client self belief and industry task. Traders are grappling with a barrage of fresh insurance policies from the fresh Trump management, specifically in business the place from side to side on tariff coverage has larger indecision for companies, shoppers and traders.
“The U.S. market sell-off is starting to look ugly,” stated 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.”
| Ticker | Safety | Terminating | Trade | Trade % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 41906.55 | -895.17 | -2.09% |
| SP500 | S&P 500 | 5614.21 | -155.99 | -2.70% |
| I:COMP | NASDAQ COMPOSITE INDEX | 17469.514391 | -726.71 | -3.99% |
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Richly valued U.S. tech shares have borne the brunt of the new selloff on Wall Boulevard.
“The narrative changes on a daily basis around tariffs – that’s what causing all this uncertainty,” stated Artwork Hogan, prominent marketplace strategist at B Riley Wealth. “The damage around markets that has everything to do with sentiment is reflected more in the Nasdaq, because technology stocks are certainly more influenced by risk sentiment.”
FOX Industry’ Taylor Penley and Reuters contributed to this document.
