**Markets Plunge Amid Economic Uncertainty and Trade Policy Fears**

World markets reopened to grim news following a steep drop in the S&P 500, which fell 2.7 percent, as concerns about President Trump's trade policies heightened investor anxiety. The downturn was compounded by new retaliatory tariffs imposed against the U.S., creating an uncertain climate for traders.

Trump's recent remarks on a “period of transition” for the U.S. economy sparked fears that additional tariffs could be on the horizon, pushing stock prices of major tech companies into a freefall. Observers at JPMorgan Chase now estimate a 40 percent chance of a global recession this year as risks associated with U.S. policies continue to grow. As markets in Asia followed suit, analysts warned that volatility stemmed more from uncertainty over tariffs rather than their immediate effects.

Trump, when questioned about a possible recession in an interview, refrained from making predictions, stating, “I hate to predict things like that.” Furthermore, his administration continues to navigate controversies, including a recent climate policy shift and discussions on semiconductor programs, which resonate throughout Washington.

In light of these developments, the financial outlook remains precarious, with investors closely monitoring the administration's next moves in the turbulent trade landscape.