The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite indices took heavy losses on Monday, March 10, as mounting anxieties from a possible Donald Trump administration shutdown fuelled fears that the US economy could be sliding into a recession amid persistent concerns about a global trade war.

The S&P 500 dropped 2.7% to drag it close to 9% below its all-time high, which was set just last month. At one point, the S&P 500 was down 3.6% and on track for its worst day since 2022. That's when the highest inflation in generations was shredding budgets and raising worries about a

That’s when the highest inflation in generations was shredding budgets and raising worries about a possible recession that ultimately never came. The Dow Jones Industrial Average dropped 890 points, or 2.