The Indicators S&P 500 and Nasdaq are on the … right track to mark their worst quarter since spring 2022, as in a few hours expected to activate duties announced by Donald Trump.

Investors find it difficult to find a basis to support, as announcements and reversals succeed one another. In addition, the worrying new economic elements that show consumer spending has rejuvenated fears of a possible recession.

Since Monday afternoon, the S&P 500 fell more than 5% than the beginning of the year, while the Nasdaq technological index fell more than 11% for the same period. The industrial Dow Joneswhich includes a narrower set of shares, has fallen 2% since the beginning of the year.

Investors react to the information seeing the light of publicity, according to which Donald Trump is pushing for even more sweeping duties, on a demonstration of fist to his enemies and his friends.

He names himself on Wednesday as ‘Liberation Day’ for US Economy.

Top advisers of Trump They had previously stated that they would impose new duties on the “dirty 15” on the nations that the US government considers to follow the worst commercial practices. This proposal would have an impact on a huge part of the US trade, but could also pave the way for individual agreements with countries, allowing a gradual reduction of special duties.

In recent days, however, Trump has pressed his advisers to return to his campaign plan to impose a single, universal interest rate on all US trade partners, which would reach up to 20%.

On Sunday night, Trump gave his first public indication that the imposition of a single duty on imports from each country remains on the table.

As the threat of duties is getting close to, analysts say the stock market will show significant instability.

“The deadline of April 2nd could be an important catalyst for most world markets, in any direction,” wrote Larry Tentarelli, a chief technical strategy for the Blue Chip Daily Trend Report.

Its officials White House They study a 1977 law that gives the President emergency powers to impose 20% duties on all imports, report information from people close to the president. The White House has announced duties in the automotive industry and on Sunday reiterated for duties on timber and medicinal products.