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U.S. stocks tumbled on Monday and the major averages all closed sharply lower, with the tech-laden Nasdaq recording a more pronounced losses. Uncertainty about President Donald Trump’s tariff moves, fears of a recession in the world’s largest economy<\/span>, and weak global growth outlook weighed on investor sentiment.<\/p>\n In a Fox News interview on Sunday, U.S. President Donald Trump declined to rule out the possibility of a recession following his tariff actions on Mexico, Canada and China.<\/p>\n “There is a period of transition, because what we’re doing is very big. We’re bringing wealth back to America,” Trump told the “Sunday Morning Futures” program.<\/p>\n With a slew of crucial economic data due later in the week, the mood in the market is extremely cautious.<\/p>\n Reports on consumer and producer price inflation, as well as readings on consumer sentiment and inflation expectations, are due this week.<\/p>\n The Dow closed down 890.01 points or 2.08 percent, at 41,911.71. The S&P 500 ended lower by 155.64 points or 2.7 percent, at 5,614.56, while the Nasdaq dropped 727.90 points or 4 percent to 17,468.32.<\/p>\n Tesla tanked nearly 16 percent. Meta Platforms, Nvidia, Alphabet, Oracle and Apple lost 4 to 5 percent, Microsoft declined 3.3 percent, Intel drifted down 3.2 percent, and Amazon ended lower by about 2.3 percent. <\/p>\n Morgan Stanley, Wells Fargo, US Bancop, Goldman Sachs, Citigroup, American Express, JP Morgan and Bank of America all closed sharply lower.<\/p>\n United Airline Holdings, Delta Airlines, Boeing, Nike, FedEx, Netflix, Moody’s and Airbnp ended weak as well.<\/p>\n Regeneron Pharmaceuticals, Exxon Mobil, Vertex Pharmaceuticals, ResMed, Constellation Brands, General Motors and Pepsico were among the notable gainers in the session.<\/p>\n In overseas trading, Asian stocks turned in a mixed performance on Monday amid lingering tariff worries, the threat of a U.S. recession and signs of deepening deflationary pressures in China.<\/p>\n European stocks closed on a weak note on Monday as rising economic uncertainty and tariff concerns rendered the mood bearish. Recent weak U.S. and Chinese economic data hurt as well. <\/p>\n In the currency market, the dollar gained marginally against the Euro, at 1.0826. Against the Japanese currency, the dollar weakened to 147.32 yen from Friday’s closing value of 148.03 yen. <\/p>\n<\/p>\n<\/div>\n