US stocks enter correction as Tesla crashes amid economic uncertainty

US stocks enter correction as Tesla crashes amid economic uncertainty

Wall Street faced another turbulent week as US stocks entered correction territory, with the Nasdaq 100 shedding $1 trillion in market value on Monday, marking its steepest one-day decline since October 2022. The S&P 500 also suffered its worst fortnight in two years, posting back-to-back weekly losses exceeding 3%. Investor sentiment soured amid growing recession fears, compounded by former President Donald Trump’s comments that the economy was…

Trump’s policies are causing more economic uncertainties than COVID-19 did

The global economy is facing more uncertainty under Trump than it did during COVID-19, according to European Central Bank (ECB) Vice President Luis de Guindos. Speaking to The Sunday Times, Luis said, “We need to consider the uncertainty of the current environment, which is even higher than it was during the pandemic.” Luis made it clear that the new U.S. administration is not interested in multilateralism—the global cooperation that kept econom…

Economic fear pummels stocks tied to Americans’ spending

President Donald Trump’s fickle trade policies are raising concerns about US economic stability, and the stocks most reliant on the strength of the American consumer are starting to feel the pinch.