Wall Street traders on Trump tariffs: ‘Without doubt, we’re hitting a recession’

Traders leaving the New York Stock Exchange were trying to make sense of another day of volatility

Traders leaving the New York Stock Exchange after the bell closed on Monday were sanguine about what had been, by an measure, a day of mood swings on Wall Street, as waves of volatility shook the stock markets, each one created by another deluge of headlines around Donald Trump's trade war and global economic uncertainty.

The markets opened down a lot, then there was a rumor that the tariffs were off, and they went back up, then all bets were off again and it went down," said Steve Kos of Option Circle, who offered a series of trading day comparisons as he walked out on to Broad Street in lower Manhattan.