U.S. stocks were on pace to close out Donald Trump’s first 100 days back in the Oval Office on a sour note, with the president’s trade policies taking the blame for derailing a thriving market and stoking fears the world’s largest economy could slip toward recession.

In the first 100 days of Donald Trump's presidency, the stock market faced the largest overall drop since the same period in Richard Nixon's presidency. The S&P 500, the American benchmark index, was down 7.

President Donald Trump’s first 100 days in office have been marked, in short, by volatility. Both uncertainty about his ever-changing tariff policies and fear that they could bring a recession have taken a toll on the market.