When markets closed on Monday, the S&P 500 and the Dow both posted their worst day of the year. The S&P 500 fell 2.7%, and the Dow dropped 890.01 points, or 2.1%, ending the day at 41,911.71.
Treasury Secretary Scott Bessent told CNBC on Friday that there could be a “detox period” for the economy if the Trump administration continues to cut government spending. Two days later, speaking with Fox News, Trump responded to a question about the possibility of a recession, saying the country will likely go through “a period of transition.”
“I hate to predict things like that,” Trump said. “There is a period of transition because what we’re doing is very big. We’re bringing wealth back to America. That’s a big thing,
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