Market Jitters: Tech Stocks Tumble Amid Tariff Tensions and Economic Fears

The S&P 500 and Nasdaq declined as tech stocks fell amid concerns over new tariffs announced by President Trump. Global stocks fell, gold prices reached new heights, and government bonds rose. Investor uncertainty has increased, with predictions of a potential U.S. recession rising to 35% from Goldman Sachs.

The S&P 500 and Nasdaq indices fell on Monday as technology stocks bore the brunt of investor caution ahead of President Trump's new tariff announcements. Investors were spooked by Trump's statement that tariffs would affect all nations, triggering worldwide market declines and driving gold prices to fresh highs.

Tech stocks like Nvidia and Microsoft were among the hardest hit, as investors expressed concerns about companies' plans for artificial intelligence investments. Tesla shares dropped following a downgraded delivery forecast. Despite these drops, the Dow Jones saw a slight uptick, buoyed by Walmart and Home Depot gains.

Amid the market turmoil, the CBOE Volatility Index rose to a two-week high as Goldman Sachs increased the likelihood of a recession to 35%. Observers are keenly watching economic indicators and upcoming central bank discourse for further insights.

(With inputs from agencies.)