Market Selloff Deepens as Recession Fears Grip Wall Street
By MYBRANDBOOK
Wall Street suffered a sharp decline as escalating trade tensions and recession fears triggered a massive selloff, particularly in the technology sector. The Nasdaq plunged 4%—its worst single-day drop since 2022—erasing $1.1 trillion in market value. The S&P 500 slid 2.7% to a six-month low, while the Dow Jones Industrial Average dropped nearly 900 points, erasing post-election gains.
The selloff was led by the "Magnificent Seven" tech stocks, as concerns over rising tariffs under President Donald Trump’s administration weighed on investor sentiment. Companies like Nvidia, Apple, Microsoft, Alphabet, Meta, and Amazon saw declines between 2% and 5%. Tesla suffered the heaviest losses, plummeting 15%, as its EV sales dropped 71% in Germany and 44% in France. UBS downgraded Tesla’s 2025 sales forecast, citing trade tensions delaying regulatory approvals in China.
The broader economic impact of the trade war is intensifying, with markets now anticipating an earlier-than-expected Federal Reserve rate cut in June. The 2-year US Treasury yield fell to 3.86%, the lowest since October 2024, reflecting concerns over slowing growth. The Federal Reserve Bank of Atlanta predicts negative GDP growth in Q1, primarily due to declining net exports.
President Trump acknowledged the economic slowdown, calling it a "period of transition" but defended tariffs as a strategy to "bring wealth back to America." Despite his reassurances, investors remain cautious, fearing further disruption to corporate earnings and economic stability.
In Europe, stock markets mirrored Wall Street’s downturn, despite recent all-time highs. The EUR/USD pair rose to 1.0854 as falling US bond yields made the dollar weaker. Germany’s increased defense spending led to higher European bond yields, highlighting a contrast with declining US Treasury yields.
Analysts warn that market volatility may persist until more clarity emerges on Trump’s trade policies and recession risks ease. A continued rotation from high-growth tech stocks to defensive assets is expected as uncertainty lingers in global markets.
BREAKING NEWS
TECHNO TRENDS
Legal Battle Over IT Act Intensifies Amid Musk’s India Plans
The outcome of the legal dispute between X Corp and the Indian government c...
Wipro inks 10-year deal with Phoenix Group's ReAssure UK worth
The agreement, executed through Wipro and its 100% subsidiary,...
Centre announces that DPDP Rules nearing Finalisation by April
The government seeks to refine the rules for robust data protection, ensuri...
Home Ministry cracks down on PoS agents in digital arrest scam
Digital arrest scams are a growing cybercrime where victims are coerced or ...
E-Magazine
TECHNOTAINMENT
Hrithik Roshan to endorse RuPay as Brand Ambassador
RuPay is reportedly planning to feature Bollywood superstar Hrithik Rosha
India Today Group launches – AI Pop Stars
Staying true to our industry leadership position in using cutting-edge tech
MOVERS & SHAKERS
TelioLabs ropes in Phaniraj V A as the Group CEO
TelioLabs has announced the onboarding of Phaniraj V A as its new Group CE
Wipro Appoints Amit Kumar as Managing Partner and Global Head
Wipro Limited (NYSE: WIT, BSE: 507685, NSE: WIPRO), a leading technology s
OPEN YOUR EYES
INTERVIEWS
Autodesk continually pushing the boundaries in the Design and
Autodesk’s vision is of a better world designed and made for all. It inte
Delivering Critical Business Communication Solutions to Enterp
Arya Omnitalk and Syntel’s comprehensive suite of solutions and more than
HOT PICK
MSI Announces the availability of RTX 50 series of laptops in
MSI, the innovative computing manufacturer in gaming, creator
Nothing Phone (3a) goes on sale today, starting at Rs 19,999
The phone was launched on March 4, featuring a 50MP main, ultra-wide, and t
MAKE IN INDIA BRANDS
DATA SAFEGUARD INDIA PRIVATE LIMITED
ALPHAMAX TECHNOLOGIES PVT. LTD.
HP INDIA SALES PVT. LTD.
BHARAT ELECTRONICS LTD.
ICONS OF INDIA
ICONS OF INDIA : RITESH AGARWAL
Ritesh Agarwal is an Indian billionaire entrepreneur and the founder a...
SHAKTIKANTA DAS
Shaktikanta Das is serving as the current & 25th governor of the Reser...
Icons Of India : Dilip Asbe
At present, Dilip Asbe is heading National Payments Corporation of Ind...
PARTNER SPEAKERS
PSU
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
HPCL - Hindustan Petroleum Corporation Ltd.
HPCL is an integrated oil and gas company involved in refining, market...
IOCL - Indian Oil Corporation Ltd.
IOCL is India’s largest oil refining and marketing company ...
VIDEOS
Top 25 Brands
Global Indian industry
Indian Tech Talent Excelling The Tech World - Soni Jiandani, Co-Founder- Pensando Systems
Soni Jiandani, Co-Founder of Pensando Systems, is a tech visionary ren...
Indian Tech Talent Excelling The Tech World - NIKESH ARORA, Chairman CEO - Palo Alto Networks
Nikesh Arora, the Chairman and CEO of Palo Alto Networks, is steering ...
Indian Tech Talent Excelling The Tech World - Shantanu Narayen, CEO- Adobe Systems Incorporated
Shantanu Narayen, CEO of Adobe Systems Incorporated, is renowned for h...
ITFORUM 2025
CMO of the Year
WOMEN LEADERSHIP
IMAGE GALLERY
TRENDS IN TECHNOLOGY
MORE VIDEOS
ADVERTISEMENTS
TECHNOLOGY DISRUPTION
UNICORNS REVOLUTIONISING
of images belongs to the respective copyright holders
