U.S. Stock Market Faces Decline Amid Economic Concerns

According to BlockBeats, the U.S. stock market experienced a significant downturn on Thursday, with the Dow Jones Industrial Average falling by 2.5%, the S&P 500 dropping 3.5%, and the tech-heavy Nasdaq Composite plummeting 4.3%. This decline follows a brief rally earlier in the week, reflecting a sudden shift in market sentiment. David Kelly, Chief Global Strategist at J.P. Morgan Asset Management, commented in a phone interview that ongoing tariff issues, coupled with reduced government spending and tighter immigration policies leading to labor shortages, are exerting considerable pressure on the economy. Kelly warned that if current policies persist, the U.S. economy might face a recession within the year. He emphasized that for the stock market to stabilize, there needs to be a resolution in tariff policies and an improvement in international trade relations.