Dow tumbles 900 points, S&P 500 heads for worst day in 2 years on recession fears: Live updates

[mystery-ak]

Updated Mon, Mar 10 20253:21 PM EDT
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Dow tumbles 900 points, S&P 500 heads for worst day in 2 years on recession fears: Live updates
Lisa Kailai Han
Jesse Pound

A three-week market sell-off intensified on Monday, with investors worried that tariff policy uncertainty would tip the economy into a recession, something President Donald Trump did not rule out over the weekend in an interview.

The Dow Jones Industrial Average
dropped 956 points, or 2.2%. The S&P 500 shed 3.3%, its worst decline in two years. The tech-heavy Nasdaq Composite

saw the biggest selling of the major averages, falling 4.8% for its biggest decline since September 2022.

The S&P 500 is off by 9.1% from its all-time high reached Feb. 19, the Nasdaq Composite is off by 14% from its recent high. Small-cap benchmark Russell 2000

is off 18% from its high. A 10% decline is considered a correction on Wall Street.

The losses worsened as the trading day continued.

The “Magnificent Seven” cohort — once the stars of this bull market — led the declines Monday as investors dumped the group for perceived safer plays. Tesla
tumbled 13%, heading for its worst day since 2020, while Alphabet, Meta and AI darling Nvidia lost around 5%. Palantir, another once-loved stock by retail traders, was down more than 10%.

more
https://www.cnbc.com/2025/03/09/stock-market-news-today-live-updates.html

[mystery-ak]

The Dems must be beyond ecstatic..

[libertybele]

...meanwhile the government shutdown (showdown) looms....

This may be a long overdue correction, but news sources are pushing the reason onto tariffs. 

[Wingnut]

...meanwhile the government shutdown (showdown) looms....

This may be a long overdue correction, but news sources are pushing the reason onto tariffs.

Of course they are.  The market is run, and trade made by lemmings.  The herd mentality is in full force.

[Luis Gonzalez]

Just a wild thought that’s been floating in my head for a couple of weeks now.

So… Trump inventories Ft. Knox, makes some calculations and puts the US back on the Gold Standard then renegotiates our National Debt, all the while grabbing as much foreign wealth as possible by way of tariffs, all with the idea of replacing the 20% of the total wealth stolen by the Biden Admin by way of money printing.

 

[libertybele]

Just a wild thought that’s been floating in my head for a couple of weeks now.

So… Trump inventories Ft. Knox, makes some calculations and puts the US back on the Gold Standard then renegotiates our National Debt, all the while grabbing as much foreign wealth as possible by way of tariffs, all with the idea of replacing the 20% of the total wealth stolen by the Biden Admin by way of money printing.

 

Not so wild. I'm not so sure that there's any gold in Ft. Knox and if so, likely very little.  Trump had talked about putting us back on the gold standard, some in here scoffed at me when I mentioned prior that we should go back to the gold standard.

I've stated several times; if anything, Trump will do well for the economy --- he's not going to do anything that's not going to make him money and likely will be good for our pockets as well.

[catfish1957]

This was a technical sell off.  Durable goods held on pretty well, in fact many, and as a whole was UP.    4% loss on the NASDAQ?  This is small beans.  I need to see some serious drops before getting interested.

[Free Vulcan]

The market is coming back into reality and skimming off the froth.

[Weird Tolkienish Figure]

Not so wild. I'm not so sure that there's any gold in Ft. Knox and if so, likely very little.  Trump had talked about putting us back on the gold standard, some in here scoffed at me when I mentioned prior that we should go back to the gold standard.

I've stated several times; if anything, Trump will do well for the economy --- he's not going to do anything that's not going to make him money and likely will be good for our pockets as well.

If Trump went back to Gold standard or Bretton Woods, that'd make him a God in my eyes. There would be some considerable pain at first, but IMO we'd start seeing 1950's/60's prosperity again. Pipe dream I guess.

[Luis Gonzalez]

Not so wild. I'm not so sure that there's any gold in Ft. Knox and if so, likely very little.  Trump had talked about putting us back on the gold standard, some in here scoffed at me when I mentioned prior that we should go back to the gold standard.

I've stated several times; if anything, Trump will do well for the economy --- he's not going to do anything that's not going to make him money and likely will be good for our pockets as well.

To paraphrase JM Keynes and bring it to modern-day levels, if you owe the bank $1,000,000 they own you, but if you owe them $100,000,000,000 you own them.

A typical Trump move would be to renegotiate the debt and offer a payout of pennies on the dollar. Or default.

We would remain the greatest market in the world, and they would be forced to sell to us, with a stronger dollar, and zero (or little) debt.

I think our creditors would go bankrupt faster not selling us than by us defaulting on the debt.

Our strongest weapon is our economy.

[mountaineer]

Market expert predicts an 'average run of the mill correction' amid stock tumble

https://twitter.com/MariaBartiromo/status/1899444915970433226

[Right_in_Virginia]

The President's meeting with a handful of nervous CEOs today. 

Personally, I'd like see him smack 'em upside their heads, but I hear he has other plans.