Market selloff: Nasdaq logs worst day since 2022 as Trump’s tariffs spark recession fears

Wall Street stocks plummeted after Donald Trump refused to rule out the possibility of a recession resulting from his tariffs. The Dow Jones Industrial Average dropped 89 points, the S&P 500 closed down 2.7% and the Nasdaq sank 4%, its biggest one-day loss in five years. Tesla shares nosedived, closing the day down 15% as a backlash against Elon Musk’s politics intensified. Plus, Japan auctioned off a portion of its emergency stockpiles of rice in an effort to bring prices down.