The selloff in U.S. stocks has deepened amid tariff and recession fears. Markets are trading near multi-month lows, and there looks to be no respite from growing macroeconomic concerns. President Donald Trump so far hasn’t seemed too perturbed by the recent market crash, which in part is due to the administration’s new tariffs.
Instead, Trump said, “There is a period of transition, because what we’re doing is very big.” Treasury Secretary Scott Bessent made a similar observation and said that the U.S. economy is going through a “detox period” and could “roll a bit.”
