Wall Street is waking up to the downside of its own overconfidence — in AI, Trump, and momentum. Investors had spent months bidding up the biggest names in tech, but now the air is rushing out. Notably, the stocks that surged in the first months following Donald Trump’s re-election in November are now the ones getting hit the hardest.

President Donald Trump indicated that he's optimistic when asked about the current state of the economy on Tuesday after previously sidestepping questions about fears of a potential recession. Reacting to the growing fears of a tariff war,

Donald Trump never told voters there might be a recession on the road to his new “golden age.” The president’s refusal – twice – to rule out an economic contraction this year set off a stock market plunge on Monday that hammered Americans’ retirement accounts.