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Senate GOP frets as Wall Street takes dip over tariffs, talk of recession

7 0
11.03.2025

Senate Republicans expressed new worries about the economy Monday after Wall Street had one of its worst days in years amid a trade war and remarks from President Trump that did not rule out the possibility of a recession.

The Nasdaq composite had its worst day in three years, closing with a loss of 4 percent, while the Dow Jones Industrial average fell by 890 points or 2.1 percent Monday and the S&P 500 index closed down 2.7 percent.

The dip in the markets came after days of increased uncertainty stemming from Trump’s repeated reversals on tariffs, which have alarmed a number of Republicans.

Trump tossed new worries on the fire when he declined on Sunday to rule out the possibility of a recession.

“I am concerned because of rising prices and paychecks not going as far as they used to go is very concerning,” said Sen. Shelley Moore Capito (R-W.Va.), a member of leadership.

“There’s definitely a lot of questions about the direction because the tariffs are off and on,” Capito continued, adding that she believes that “indicates there’s negotiations” ongoing and they will settle down eventually.

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