The U.S. stock market experienced a sharp downturn on Monday amid increasing concerns over economic growth and a potential recession.

The Dow Jones Industrial Average plummeted by 370 points (-0.9%), while the S&P 500 dropped 1.4%, and the Nasdaq Composite slid 2.1%.

The U.S. stock market experienced a sharp downturn on Monday, amid increasing concerns over economic growth and a potential recession.

President Donald Trump, in an interview with Fox News, declined to rule out a recession this year. He expects a “period” of transition as a result of policy changes.

The Dow Jones Industrial Average plummeted by 370 points, or -0.9%. The S&P 500 dropped 1.4%, and the Nasdaq Composite slid 2.1%.

This follows last week’s performance, which saw the stock market experience its worst two-year stretch.

The Magnificent 7 stocks led the market rout. Nvidia (NVDA) stock fell 2.6%, erasing pre-market gains.

Tesla (TSLA) shares took a significant hit, plunging 5.6%. Palantir (PLTR) also saw a setback, with its stock declining by 6.7%.

Key Stocks to Watch

Airbnb (ABNB)

Shares of Airbnb saw a slight increase as Jefferies upgraded the shares to a Buy and noted durable growth and the addition of an “experiences” product category.

Bally’s (BALY) shares climbed 4.17% after it proposed a A$150 million recapitalization deal with Star Entertainment that would give Bally’s a 50.1% controlling stake in the Australian casino company.

Cognizant (CTSH) stock rose 2.04% after reports that activist investor Mantle Ridge had built a $1 billion stake in the technology services giant.

Coinbase (COIN) stock plummeted 7.7% after S&P Dow Jones Indices excluded the crypto exchange from its S&P 500 index.

Doordash (DASH) stock initially surged 2.8% pre-market after being included in the S&P 500 but later gave up gains as broader market sentiment turned bearish.

Oracle (ORCL) stock declined 3.66% ahead of its earnings report, which is set to release after market close. Analysts anticipate earnings of $1.49 per share on $14.38 billion in revenue. The report will be closely monitored for insights into enterprise technology spending and cloud growth.

Stocks in Hong Kong also faced pressure on Monday following news that China’s consumer prices declined in January and February, signaling ongoing deflationary concerns in the world’s second-largest economy.

With growing economic uncertainty and investor sentiment turning cautious, all eyes will be on upcoming data releases and earnings reports to gauge the market’s trajectory in the coming weeks.