Every major U.S. stock market plunged on Monday, wiping out billions of dollars in value.

Jeanna Smialek, who covers the U.S. economy for The Times, discusses what was behind the dizzying sell-off — and what it can tell us about whether America is headed for a recession.

Guest: Jeanna Smialek, a reporter covering the Federal Reserve and the U.S. economy for The New York Times.

Background reading: 

• stocks.html">Global stock markets fell sharply — the latest example of how distinct economic forces can ricochet across markets.
• What should you do when the stock market drops?market-advice.html"> Here’s the advice from our columnist.

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