President Donald Trump is signaling a recession, and U.S. stocks are reacting, plummeting amid a market selloff. Bitcoin, also impacted, is tumbling in price.
According to CNN, all three major indexes opened in the red, continuously dropping throughout the day and closing in the red. In summary, The Dow closed with a loss of 890 points, a total of 2.08%.
The S&P 500 also dropped 2.7%, and the Nasdaq Composite fell 4%.
The “Magnificent Seve” stocks of Alphabet (GOOG), Amazon (AMZN), Apple (AAPL), Meta (META), Microsoft (MSFT), Nvidia (NVDA), and Tesla (TSLA) were all in the red.
For Tesla, the drop erased the market gains of the post-election season.