Bear Market Looms: S&P 500 Futures Plunge Over 20%

S&P 500 futures dropped over 20% from their peak, moving towards a bear market as global recession concerns rise. President Trump remarked on market dynamics, stating investors must brace for volatility. The Dow and Nasdaq futures also saw declines of over 3% each during pre-market trading.

In a significant downturn, futures linked to the S&P 500 index fell more than 20% from their historical highs on Monday, inching closer to confirming a bear market. The decline comes amid escalating fears of a global recession, shaking investor confidence across the globe.

Addressing these market jitters, U.S. President Donald Trump commented on Sunday that investors should be prepared to 'take their medicine.' He clarified that he was not orchestrating a market selloff deliberately and emphasized that no trade deal would be solidified with China without addressing the trade deficit.

As of 04:20 a.m. Eastern Time, S&P 500 E-minis had plunged 166 points, or 3.25% for the day, marking a dip over 20% from the all-time high achieved in December. Simultaneously, Dow and Nasdaq 100 E-minis experienced declines of 1,162 points (3.02%) and 639.75 points (3.65%) respectively in pre-market trading.

(With inputs from agencies.)