Topline
Stocks globally plummeted again Monday as President Donald Trump dug in on his tariffs, which many economists predict will quickly send the global economy into a recession.
Key Facts
After historically bad Thursday and Friday trading which wiped out trillions of dollars in equity, U.S. stocks appeared poised Monday to sink even further.
Futures for the Dow Jones Industrial Average fell 830 points, or 2.2%m shortly after 8 a.m. EDT, while futures for the S&P 500 and tech-concentrated Nasdaq dropped 2.4% and 2.8%, respectively.
The Nasdaq entered a bear market, in which an index declines 20% or more from a recent high, on Friday, and its more industry-neutral peers are on the verge of entering their first bear markets since 2022.
The Dow’s futures-implied open would put it 17% below its December all-time high and the S&P’s implied open would place it 19.5% below its February peak, while the Nasdaq is set to begin normal trading 25% below its December record.
Stocks tumbled in regular Europe and Asia trading Monday, as Europe’s Stoxx 600 and the U.K.’s FTSE 100 indexes tumbled 5% apiece and China’s CSI 300 and Japan’s Nikkei 225 indexes fell 7% and 8%, respectively.
This is a breaking news story and will be updated…