But for sure, this quarter, there are some blips in the data,” he said. Meanwhile, in an interview with Fox News on March 9, Donald Trump responded to a question about the possibility of a recession by saying the US economy was going through “a period of transition.”Blockchain betting platform Polymarket quipped that recession odds are “the best looking chart in finance right now.”Source: PolymarketTech stock and crypto sell-offThe so-called “Trump bump” has dissipated, with the S&P 500 now lower than it was before his Nov.5 US election victory. The index has lost almost 10% from last month’s high, and the Nasdaq is already in a correction, having lost 14% in just three weeks.
Crypto and tech stocks saw large selloffs on March 10 as fears of a US recession heightened despite efforts from the White House to temper concerns. Economists at Wall Street investment bank JPMorgan have raised their recession risk this year to 40%, up from 30% at the beginning of 2025. “We see a material risk that the US falls into recession this year owing to extreme US policies,” wrote the analysts, according to The Wall Street Journal. Analysts at Goldman Sachs economists also raised their 12-month recession probability to 20%, up from 15%.
Tesla tanked a whopping 15%, becoming the worst-performing stock in the S&P 500 this year.AI giant Nvidia lost 5.1%, Apple shed 4.9%, Meta fell 4.4% and Alphabet lost 4.5% on the day. Related: Biggest red weekly candle ever: 5 things to know in Bitcoin this weekMeanwhile, crypto markets have plunged to their lowest point since early November, with a 7.5% fall in total market capitalization to $2.6 trillion on March 11, with around $240 billion exiting the space. Crypto market cap declines 1 month.
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Author / Journalist: Cointelegraph by Martin Young
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