Internet reported that major Asian stock indexes plunged on Monday as White House officials showed no sign of abandoning their comprehensive tariff plan. Investors were betting on the rising risk of a U.S. recession and could cut interest rates as early as May. Futures markets quickly reflected expectations of 25 basis points in the U.S. interest rate cuts nearly five times this year. Sean Callow, senior currency analyst at ITC Markets in Sydney, said: "The only real circuit breaker is President Trump's remarks, and there is little indication that the market sell-off has troubled him enough to make him rethink the policy stance he has believed in for decades." Investors had previously believed that trillions of dollars in wealth losses and possible damage to the economy would cause Trump to rethink his plans.