Crypto and tech stocks experienced significant selloffs on March 10 amid heightened fears of a US recession. Economists at JPMorgan raised their recession risk for 2025 to 40%, citing extreme US policies as a material concern. Goldman Sachs also increased its 12-month recession probability from 15% to 20%, noting that further increases could occur if the current administration does not adjust its policies. Meanwhile, Morgan Stanley updated its economic growth forecast to just 1.5% for 2025, lowering it further for 2026, while also raising inflation expectations. In contrast, a key economic adviser to President Trump expressed optimism about the economy, insisting that current data blips are temporary. The overall market responded negatively, with the S&P 500, Nasdaq, and Dow Jones all closing in the red, resulting in significant declines for major tech firms and cryptocurrencies. The tech-heavy Nasdaq fell 4%, while the broader crypto market lost 7.5% of its capitalization, reflecting a loss of around $240 billion within the space.

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