The Nasdaq posted its biggest single-day drop since September 2022. In addition, the Dow and S&P 500 each posted their worst day of the year.

US stocks plunged, bitcoin stumbled and Wall Street’s fear gauge hit its highest level this year as concerns about President Donald Trump’s economic policy led to a widespread market selloff on Monday.

Earlier Monday, analysts at Goldman Sachs downgraded their forecast for economic growth in the US from 2.4 percent to 1.7 percent.