Stocks drop, gold hits record as tariffs stoke recession worries

The Dow Jones Industrial Average rose 1.00 per cent to 42,001.76, the S&P 500 rose 0.55 per cent to 5,611.85 and the Nasdaq Composite fell 0.14 per cent to 17,299.29. Europe's STOXX 600 fell 1.51 per cent to its lowest in almost eight weeks, while major indexes in Frankfurt, London and Paris fell between 1.7 per cent and 2 per cent. Analysts at Goldman Sachs now see a 35 per cent chance of a US recession, up from 20 per cent previously, saying they expect Trump to announce tariffs that average 15 per cent across all US trading partners on Apr 2.