Data: Financial Modeling Prep; Chart: Axios Visuals

U.S. stock markets cratered on Monday, with investors fearful that the economy could be headed into a recession.

Why it matters: This could put new pressures on consumer confidence and the Trump administration, all just days ahead of a possible government shutdown.

By the numbers: The tech-heavy Nasdaq Composite shed 4%, or 728 points, keeping it firmly in correction territory. It was the index’s third-worst point loss ever, with the only two worse coming in the early days of the COVID-19 pandemic.

• The Dow Jones Industrial Average lost 890 points, or 2.1%.
• The S&P 500 was down 2.7%, and the Russell 2000 was off nearly 5%.

The intrigue: Trump-related stocks took their lumps, with big losses for both Tesla (-15.4%) and Trump Media & Technology Group (-11.5%).

The bottom line: The sell-off is intensifying, as the government sends mixed messages on recession prospects.