U.S. equity futures tumbled in early Monday trading, while the dollar extended its weeks-long slump and Treasury bonds rallied, as investors extended their retreat from risky markets amid broadening concerns that President Donald Trump's tariff and government jobs cuts could tip the world's biggest economy into recession.

Donald Trump declared tariffs will be the “best thing” the US has ever done, despite refusing to rule out a recession. Speaking on board Air Force One on Sunday (9 March), the president said the tariffs he has imposed will make the US “rich again.

WASHINGTON—President Trump declined to rule out that the U.S. economy would contract this year and enter a recession, saying that his sweeping economic agenda could cause short-term turbulence that he believed would drive future prosperity.