President Donald Trump’s sharp tariff hikes last week have sent the stock market into a tailspin, raised alarm bells among Wall Street executives, and heightened many economists’ worries that the U.S. could tip into recession.

In a story published March 11, 2025, about the potential for a recession, The Associated Press erroneously reported which network President Donald Trump appeared on when he refused to rule out a recession.

President Donald Trump has pledged cheaper prices and lower interest rates, but an economy transformed by the pandemic will make those promises difficult to keep.