The US stock market is on track for its worst first 100 days of any presidential term since President Gerald Ford assumed office in 1974.

U.S. stocks were on pace to close out Donald Trump’s first 100 days back in the Oval Office on a sour note, with the president’s trade policies taking the blame for derailing a thriving market and stoking fears the world’s largest economy could slip toward recession.

History indicates that investors should expect an overall gain in stocks for the rest of Trump’s term. But market returns have been lower when stocks were down in a president’