Watch live: Stock market closes after Trump declines to rule out recession

U.S. stocks continued to spiral lower as investors worried about heightened risk of recession this year after President Donald Trump wouldn't rule one out. In a Fox News interview on Sunday, Trump declined to predict whether the U.S. could face a recession. "I hate to predict things like that," he told Fox host Maria Bartiromo. "There is a period of transition because what we’re doing is very big." The broad S&P 500 and tech-heavy Nasdaq each dropped to their lowest levels since September 2024. The Nasdaq fell deeper into correction territory, at one point, down 13.3% from the all-time closing high on Dec. 16. Correction territory is at least 10% below a record high.