With record levels of dry powder available for investment, find out what's in store for private markets in 2025 and beyond.

Listen to crafting capital in partnership with UBS at partners.wS.J.com slash UBS, Spotify and Apple Podcasts.

Markets slide as concerns about a recession in the U.S. grow.

Plus, President Trump's policy on Ukraine is worrying European buyers of American weapons.

European officials looking at what's happening and thinking,

if the U.S. is willing to cut off weapons delivery so suddenly and cut off all that comes with that,

such as maintenance and spare parts,

then is it a safe bet for us now?

And why states want to remove fluoride in public water.

It's Monday, March 10th.

I'm Alex Oslo for the Wall Street Journal.

This is the PM edition of What's News, the top headlines and business stories that move the world today.

Stock slid today as concerns about the U.S. economy tipping into a recession grew.

As we mentioned in this morning show, during an interview on Fox News's Sunday morning futures,

President Trump refused to rule out the U.S. entering a recession this year.

In contrast, Commerce Secretary Howard Lutnik told NBC News, quote,

There's going to be no recession in America.

All major U.S. indexes ended the day lower.

The Dow dropped by nearly 900 points, closing down about 2%.

The S&P 500 fell 2.7%. And the NASDAQ plunged by 4% as big tech companies extended their

sell-off, its largest one-day percentage decline since 2022. Tesla stock lost about 15%. Its worst day since 2020. Shares of the

other magnificent seven stocks, Apple, Microsoft, Alphabet, Amazon, Nvidia, and meta, fell between 2 and 5%.

...