US stocks plunge as fears grow over economic slowdown

US stocks plunged connected Monday arsenic fears grew implicit an economical slowdown, aft President Donald Trump did not regularisation retired a recession.

The Nasdaq sank by 4.0% astatine the adjacent of trading, its largest single-day nonaccomplishment since 2022, and determination were dense losses connected different markets with tech stocks seeing the largest drops.

Tesla shares fell astir 15.4%, portion chipmaker Nvidia was down much than 5%. Other large tech stocks including Meta, Amazon and Alphabet besides sank.

The S&P 500 Index slid 2.7%, and the Dow Jones Industrial Average dropped 2.1%.

It comes aft Trump said the US system was successful a play of transition, aft helium was asked astir concerns implicit a imaginable recession.

Speaking to Fox News successful an interrogation broadcast connected Sunday but recorded connected Thursday, Trump appeared to admit the concerns. "I hatred to foretell things similar that," helium said. "There is simply a play of modulation due to the fact that what we're doing is precise big. We're bringing wealthiness backmost to America. That's a large thing."

There are increasing fears among economical analysts that maturation volition dilatory and prices volition rise.

Last week, the main US markets fell backmost to the level earlier Trump's predetermination triumph past November, which had initially been welcomed investors owed to hopes of taxation cuts and lighter regulation.

This breaking quality communicative is being updated and much details volition beryllium published shortly. Please refresh the leafage for the fullest version.

You tin person Breaking News connected a smartphone oregon tablet via the BBC News App. You tin besides travel @BBCBreaking connected X to get the latest alerts.