U.S. stock markets plunged on Monday, with major indices suffering their worst losses in years, as mounting fears of a recession gripped investors following President Donald Trump's refusal to rule out an economic downturn. The Dow Jones Industrial Average dropped 890 points, or 2.1%, closing at its lowest level since December. The S&P 500 declined 2.7%, while the Nasdaq Composite tumbled 4%, marking its steepest one-day decline since 2022. The sell-off wiped out over $1.75 trillion in market capitalization from the U.S. stock market in a single day. Technology stocks bore the brunt of the downturn, with the tech-heavy Nasdaq shedding $1 trillion in value. Tesla shares plummeted more than 15%, leading the sector's losses, while other major tech companies, including Meta and Amazon, also saw significant declines. Investors are increasingly concerned that President Trump's aggressive tariff policies and ongoing trade disputes could tip the U.S. economy into a recession. On Sunday, Trump declined to rule out the possibility of a recession during a televised interview, which further unnerved markets already jittery over trade uncertainties and the potential for a federal government shutdown. The impact of the U.S. market downturn rippled across global markets. Asian stocks fell sharply on Tuesday, extending the global sell-off as fears of a U.S.-led economic slowdown intensified. European markets also opened lower, echoing Wall Street's losses and reflecting investor anxiety over the potential for a worldwide recession.