Wall Street selloff deepens as Trump sparks recession concerns

Reuters

Mon, Mar 10, 2025, 8:53 AM 3 min read

NEW YORK (Reuters) -Major U.S. banal indexes sank connected Monday aft U.S. President Donald Trump declined to foretell whether his tariff policies could pb to a recession, roiling capitalist sentiment.

The Nasdaq Composite slumped astir 4% aft moving into a correction past week. The S&P 500 slid 2%, and the scale is present astir 8% down from its all-time precocious from February 19.

Below are capitalist and expert comments astir the selloff.

ROSS MAYFIELD, INVESTMENT STRATEGIST, BAIRD, LOUISVILLE, KENTUCKY

"The Trump medication seems a small much accepting of the thought that they're OK with the marketplace falling, and they're perchance adjacent OK with a recession successful bid to nonstop their broader goals. I deliberation that's a large wake-up telephone for Wall Street. There had been a consciousness that President Trump benignant of measured his occurrence connected banal marketplace performance, determination was adjacent somewhat of a 'Trump put' truthful to speak, and I deliberation we're seeing that's not the case, truthful the marketplace is starting to bespeak that reality."

"(Tech stocks have) precise extended valuations trading astatine beauteous large premiums to the broader market. So you're bound to person immoderate aerial pockets, and technically they don't look great. There could beryllium much weakness to travel implicit the adjacent term, but I would decidedly beryllium buying these precocious prime maturation companies connected the dip."

"One spot we're having to revisit is my penchant for US (stocks) implicit international. The unit that the Trump medication is putting connected overseas governments... has actually, successful a batch of cases, resulted successful outperformance from those countries (such as) China and Europe. That's a spot we're revisiting to determine if we deliberation it's thing much structural oregon conscionable a abbreviated word trade."

AYAKO YOSHIOKA, SENIOR INVESTMENT STRATEGIST, WEALTH ENHANCEMENT, LOS ANGELES

"We've seen intelligibly a large sentiment shift. And portion of this is conscionable a effect of the momentum that we had seen successful galore of the maturation stocks implicit the past 2 years. They're each benignant of falling a batch much truthful than everything else. And a batch of what has worked is not moving now. I deliberation determination was conscionable a crushed to instrumentality immoderate chips disconnected the table. The uncertainty going guardant intelligibly keeps radical a small spot much tense astir the trajectory of the marketplace path."

ART HOGAN, CHIEF MARKET STRATEGIST, B RILEY WEALTH

"The communicative changes connected a regular ground astir tariffs--that's what causing each this uncertainty. The harm astir markets that has everything to bash with sentiment is reflected much successful the Nasdaq, due to the fact that exertion stocks are surely much influenced by hazard sentiment. De-risking besides tends to instrumentality you retired of the precocious beta names which are successful the Nasdaq. Today is nary different."