The stock market’s sudden decline from all-time highs to a recession scare in just three weeks is a “largely self-inflicted” situation, according to CNN reporter Matt Egan. Several factors contributed to this downturn.
Confidence plummeted due to concerns over economic growth and inflation rates. The US economy experienced rising interest rates, which made borrowing more expensive for consumers and businesses. This led to reduced consumer spending and slowed business investment.
Additionally, Elon Musk’s recent actions sparked worry among investors. His decision to cut thousands of jobs at Twitter and Tesla has raised fears about the company’s future stability.
Furthermore, geopolitical tensions have also had an impact on the market. A meeting between US officials and Russian leaders was postponed, which may have caused a surge in the Russian market.
The situation remains volatile, with investors scrambling to reassess their portfolios.
Source: https://edition.cnn.com/2025/03/11/business/video/trump-matt-egan-recession-digvid