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Recession fears: Stock market plunges as President Trump threatens new tariffs
Posted
March 14, 2025
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11:44Now PlayingU.S. stocks fell on Thursday with the S&P 500 now more than 10 percent below its last record high.
On Thursday, President Donald Trump also threated a 200% tariff on European wine, champagne and spirits, if the European Union does not remove tariffs on U.S. whiskey. These changes have sparked many questions included whether we could be headed for a recession.
The Dow Jones Industrial Average dropped 537 points, or 1.3% Thursday, and the Nasdaq composite fell 2%.
The turbulence is a result of uncertainty about how much pain Trump will let the economy endure through tariffs and other policies in order to reshape the country and world as he wants. The president has said he wants manufacturing jobs back in the United States, along with a smaller U.S. government workforce and other fundamental changes.
LiveNOW's Andy Mac helps us make more sense of this with Barron's Megan Leonhardt.
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