The Dow plummeted by nearly 500 points on Monday, with the S&P 500 index falling over 2%. This downturn follows last week’s market slump attributed to tariff uncertainty. President Trump’s weekend comments also raised concerns about a possible recession in 2025, although his commerce secretary disagreed. Big banks, including JPMorgan Chase and Goldman Sachs, have increased their recession risk assessments to 40% and 20%, respectively, citing growing pessimism about the economy.
Source: https://www.newser.com/story/365476/fears-of-a-2025-recession-are-gaining-steam.html