US Stock Market Joins Sharp Decline, Analysts Say This Is the First Stage of a New Bear Market

BlockBeats News, April 3rd, following a sharp decline in global stock markets from Japan to Europe, the U.S. stock market joined the plunge, with the S&P 500 re-entering correction territory, wiping out nearly $2 trillion in market value and marking the largest (single-day) drop since September 2022.

Fitch Ratings warned that tariffs are a "game-changer" for the global economy, while Deutsche Bank described this as a "once-in-a-lifetime" moment that could easily push down the U.S. economic growth rate by 1% to 1.5% this year.

Leuthold Group's Chief Investment Officer Doug Ramsey stated that he wouldn't say a recession is inevitable, but the deeper the pullback, the higher the likelihood of a recession. The current market decline is the first stage of a new bear market, rather than just a retracement. (FXStreet)