Nasdaq, S&P 500 fall 3% each amid US recession fears, Apple drop

U.S. stocks saw substantial declines on Monday, with the Nasdaq and S&P 500 each falling over 3%. The losses were driven by recession concerns and a sharp drop in Apple shares after Berkshire Hathaway halved its stake. Weak economic data and concerns over the Federal Reserve's interest rate policy contributed to the market's extended sell-off.