Wall Street faces significant declines, with U.S. stocks sinking to six-month lows. A wave of recession anxiety has driven investors toward safer assets, fueling a rally in U.S. bonds. The "Magnificent 7" tech stocks suffered their steepest single-day drop since July 2024, while Tesla plunged 15%—its worst decline since 2020. Meanwhile, commodity prices are under pressure due to tariff uncertainty, and Aussie shares are expected to retreat back to six-month lows.

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