President Donald Trump's sharp tariff hikes last week have sent the stock market into a tailspin, raised alarm bells among Wall Street executives, and heightened many economists' worries that the U.S. could tip into recession.

The tariffs, set to take effect Wednesday, include a 10% blanket duty on nearly all countries and additional import taxes on 60 nations. The increases are so large and are taking effect so rapidly that they are likely to be disruptive to the economy, economists say, even if they are partially rolled back through negotiations in the coming weeks or months.