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It has been a wild few weeks in markets.
In late February, the Nasdaq 100 index hit another record high,
topping out months of gains that followed the election of Donald Trump.
There really was sort of a sugar rush across Wall street,
even across Main street with a lot of retail traders.
And there was this excitement in certain cor that deregulation, low taxes,
an embrace of cryptocurrencies would really boost markets and would boost the American economy.
Charlie Wells covers personal finance for Bloomberg,
and he says that now that picture is changing because those gains that followed.
Trump's election, well, they have been entirely erased.
So from the moment that he was elected until now, we're really seeing a reversal there.
By last week, the S&P 500 had wiped out all the value it's added since Election Day.
$3.4 trillion worth.
The Nasdaq 100 tumbled around 3% Monday morning,
extending a sell off that's put it into correction territory.
Investors were watching over the weekend when Trump was asked on Fox News Sunday Morning Futures about the possibility of a recession.
I hate to predict things like that.
There is a period of transition because what we're doing is very big recession.
Predictions aside,