Stocks drop, gold hits record as tariffs stoke recession worries

What the Trump administration has shown us so far is that you should not expect a consistent approach,

said George Lagarias, chief economist at Forvis Mazars

The current market narratives center on this fear of stagflation, which conceptually could be the worst possible combination for stocks,

said Talley Leger, chief market strategist at The Wealth Consulting Group in New Jersey

We're expecting some broadening out in both earnings and just stock performance this year,

Wren said

We saw the retest today; we might get a little bit of a bounce here. We want to buy while we've got a pullback,

he said Monday on CNBC's "Closing Bell: Overtime."

Once tariffs are announced on April 2, negotiations to soften them can begin,

researchers at the investment bank UBS said in a note to clients Monday

There is an air of capitulation in financial markets ahead of the April 2nd reciprocal tariff announcement from the US,

said Kathleen Brooks, research director at XTB

Trump continues to be the key reason why markets are having a bad day,

said AJ Bell investment director Russ Mould

He has now threatened to target all countries importing goods into the US with tariffs, further clouding economic prospects around the world,

he added

This is perhaps the outcome the market was starting to price on Friday,

Wilson said

I hate to predict things like that. There is a period of transition because what we're doing is very big... It takes a little time."

On the question of whether he expected a recession this year, Trump said

Many countries have taken advantage of us — the likes of which nobody even thought was possible, for many, many decades,

Trump said

Its all about the tariff uncertainty and how much tariffs and counter measures will be announced,

said Mohit Kumar, chief economist and strategist for Europe at Jefferies, in a note Monday

The market is going to have a lot to digest,

Henrietta Treyz, Veda Partners director of economic policy, told Yahoo Finance

No, I couldn’t care less, because if the prices on foreign cars go up, they’re going to buy American cars.”

In an interview with Meet the Press on Saturday, Trump said

This is the beginning of Liberation Day in America,

Trump said

I haven’t heard that term in years,

he said

As the fourth largest cruise line in the world (behind CCL, RCL, and [privately-held MSC Cruises]), there is a lot to like about NCLH,

analyst David Katz wrote

Mark Zandichief economist

While our baseline doesn't show a decline in real GDP, given the mounting global trade war and DOGE cuts to jobs and funding, there is a good chance GDP will decline in the first and even the second quarters of this year,

said Mark Zandi of Moody's Analytics

Signs of slowing in hard activity data are becoming more convincing, following an earlier worsening in sentiment,

wrote Barclays over the weekend

We doubt 'Liberation Day' is going to mark the end around tariff uncertainty ... the potential is in fact higher for the April 2 deadline to introduce even more uncertainty, and hence the prolonged broad-based weakness in leading indicators,

said HSBC's Chief Multi-Asset Strategist Max Kettner