A subpar jobs report on Friday triggered a market downturn, which has continued into Monday. 

The Numbers: On Monday morning, Japan’s Nikkei was down 12.4%, and benchmark indexes in South Korea and Taiwan were both down over 8%. The S&P 500 opened down about 4% Monday, with the Nasdaq falling 6%.

What's Next?: While some have reported on recession fears, others are more optimistic, though for different reasons. Peter Cohan for Fortune (Center bias) said the Federal Reserve may cut rates sooner than scheduled. A writer for Reason (Lean Right) advocated for long-term optimism about the economy but cautioned the Federal Reserve: "While an expected interest rate cut in September isn't a big deal by itself, if it's the start of a larger stimulus campaign, any short-term economic boost will come at the cost of a slowdown later." Whereas, a U.S. News & World Report (Lean Left) analyst said, "Ironically, the downturn in the market has brought interest rates lower and that is doing some of the Fed’s work for it. That makes it less likely that the central bank will act before September, as a panic move between meetings would be read as very negative by the markets," and that the downturn could be a market correction. "The next few days could be critical," he continued.

Word Choice: The Reason headline called it a "stock market slump" while Fortune labeled it a "plunge" and said "markets cratered." U.S. News & World Report referred to a "market meltdown," indicating different perceived levels of severity of the downturn.