Stock Markets Plunge On US Recession Fears

Responding to the market sell-off Monday, a White House official said there was "a strong divergence between animal spirits of the stock market and what we're actually seeing unfold from businesses and business leaders." (Credit: AFP)

Global markets slumped Monday, with Wall Street logging sharp losses over fears that US President Donald Trump's trade policies could tip the world's biggest economy into a recession.

In the United States, the tech-heavy Nasdaq Composite Index plummeted by 4.0 percent, seeing its worst day since 2022 after Trump declined to rule out the risk of a US recession.