`The selloff in U.S. stocks deepened on March 13, and the broad-based S&P 500 Index ($SPX) joined the tech-heavy Nasdaq Composite ($NASX) in correction territory, which by definition is a drawdown of 10% or greater.
The escalating trade war is making the market jittery. Moreover, concerns over U.S. economic health have ignited after several indicators show a cooling off. President Donald Trump has predicted a “period of transition” for the world’s largest economy while not ruling out the possibility of a recession. Treasury Secretary Scott Bessent sees a “detox period,” which he later clarified does not necessarily mean a recession.
