The day before the Dow Jones Industrial Average was going to decline by as many as 1,188 points, President Donald Trump said "I hate to predict things like that" when asked whether he expected a recession in 2025. It's a response to comfort neither investors nor consumers, and it's reflected in both equity and bond market price action on Monday.
Over the weekend, President Trump said in an interview with Fox News Channel that reciprocal tariffs announced on February 13 will take effect on April 2. The White House has directed Commerce Secretary Howard Lutnick to provide a tariff implementation plan on April 1.
