Wall Street Begins Week with Significant Losses

Wall Street faced a rocky start to the week as major indexes opened lower, reflecting widespread concerns over economic growth. This downturn follows a sharp decline in premarket trading, setting a somber tone for investors.

Trump's Recession Remarks Add to Market Jitters

In a recent interview, President Donald Trump did not dismiss the possibility of a recession, stating his reluctance to make such predictions but acknowledging the economy's transitional phase. His comments have added to the market's unease, especially as new Chinese tariffs on US food exports take effect.

Federal Reserve's Stance Influenced by Tariffs

Federal Reserve Chair Jerome Powell highlighted how the administration's tariffs and economic policies could impact the Fed's policy direction. This statement has further fueled investors' concerns about the economic outlook and its implications for monetary policy.

Market Performance Highlights

At 9:30 am ET, the Dow Jones Industrial Average fell by 1.01%, or 430 points, with Goldman Sachs Group Inc. leading the decline at a 2.68% drop. The Nasdaq 100 wasn't spared, losing 1.83%, or 374 points, with Strategy Inc. plummeting by 5.71%. The S&P 500 also saw a significant decrease of 1.34%, as United Airlines Holdings Inc. dropped by 6.36%.

Meanwhile, the euro remained stable against the dollar, trading at 1.08443 at 9:32 am ET.