Public Event Detail
Stocks Have Worst Day Since 2020 as Trump’s Tariffs Raise Risk of Recession
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Event summary
US and global stock markets experienced their worst day since 2020 due to new tariffs unveiled by President Trump, which are expected to harm economic growth and increase inflation. Technology and energy sectors were hit hardest, while bonds rallied as investors sought safety in government debt amidst rising recession fears. Analysts warn that the aggressive tariffs could push the Federal Reserve towards looser monetary policy but also complicate inflation control, raising the probability of a recession to at least one-third.