TechFlow news, April 11 — According to Jinshi Data, despite a rebound on Wednesday amid a dismal April performance across the three major indexes, Thursday saw the Dow Jones Industrial Average (DJIA) close down 2.5%, the S&P 500 Index (SPX) plunge 3.5%, and the tech-heavy Nasdaq Composite Index (COMP) drop sharply by 4.3%, signaling a sudden deterioration in market sentiment.
David Kelly, Chief Global Strategist at JPMorgan Asset Management, said in a phone interview that uncertainty over tariffs remains, and combined with pressures such as government spending cuts and labor shortages caused by tighter immigration policies, the market has realized the economy is facing broad-based shocks.
Kelly noted that if current policies persist, the U.S. economy could fall into recession within the year. He believes that for U.S. equities to stabilize, at minimum there must be stability in tariff policies and an improvement in international trade relations.
