Global Recession

Trump’s tariff escalation triggered a historic market meltdown, with stocks, bonds, oil, and the dollar all plunging amid rising fears of a global recession.

Asian stocks tumble most since 2008 on global recession worries

The MSCI Asia Pacific Index fell as much as 7.9%, the most since October 2008, with TSMC, Tencent and Sony among the biggest drags

JPMorgan sees global recession odds at 60% if tariffs sustained

Several Wall Street firms on Thursday warned of a US recession, with some making it their base case, after Trump announced major levies on imports

Peter Schiff raises alarm as US National Debt skyrockets, predicts record increase in 2024

The sharp increase in US debt is likely to be the quickest increase within a short period of time, and Schiff wonders if the year will end with a debt or dollar crisis.

Economist David Rosenberg sounds alarm on recession risks: Are we ignoring the lessons of history?

A key recession indicator highlighted by Rosenberg is the inverted yield curve, which has been inverted for 13 months, the longest period since 1979-80.

Investor Jeffrey Gundlach warns of ticking bomb as US national debt approaches $33 trillion

Since March 2022, the fed has implemented ten successive rate hikes before deciding to pause them in the latest Federal Open Market Committee meeting held on June 14.

Looming US debt crisis is in a late-stage big cycle, ace investor Ray Dalio says

The renowned investor's words reflect the growing unease among financial experts regarding the escalating debt burden in the United States, which now stands at a record of more than $31 trillion.

Deutsche Bank forecasts earlier, milder recession for the US

The US Federal Reserve has hiked interest rates 10 times consecutively since March 2022 to tame inflation. This is on record one of US central bank’s most aggressive rate-hike cycles in recent history

CEOs concerned about US' economic outlook, structural challenges

While Goldman Sachs' economic research team believes in the possibility of a soft landing, CEO David Solomon acknowledges the tightening economic conditions and potential lag effects. He, however, remains optimistic that any potential recession will be shallow

Fate of apparel makers hangs in the balance

Textile manufacturers, particularly apparel makers, have had a tough going with demand collapsing in EU and US, their key markets. No near term solace is in sight

Debt default, banking crisis key concerns for US economy, says economist David Rosenberg

Rosenberg is scathing in his criticism of the Fed’s rate hike cycle and has also slammed chair Jerome Powell for saying the banking crisis is over even as more regional banks come under pressure in the United States

Balkrishna Industries | After a 40% rise in two years, is there more upside in near term?

With a global recession looming, volumes in its key revenue vertical are under pressure despite pricing being at a discount to the competition.

WEF at Davos 2023: Risk of global recession high, say economists

The World Economic Forum interacted with three chief economists to find out how business leaders can best prepare their organisations to weather the economic storms ahead. The World Economic Forum Chief Economists Outlook, January 2023, reveals how businesses can prepare for the looming turbulence

World Bank cuts 2023 forecasts and warns of global recession

Global gross domestic product will probably increase 1.7% this year, about half the pace forecast in June, the Washington-based lender said Tuesday. That would be the third-worst performance in the last three decades or so, after the contractions of 2009 and 2020.

Job cuts don’t mean mass layoffs in looming global recession

Almost three years after Covid-19 hit, companies around the world still complain that they can’t get the talent they need.

Oil climbs 3% as dollar slips and EU ban looms

Though fears of global recession capped gains, Brent crude futures were up $3.29, or 3.48%, at $97.96 a barrel by 1203 GMT, set for a weekly gain of more than 2%.

World 'dangerously close' to recession, warns World Bank President

All of the problems that people have taken note of, the inflation problem, the interest rate rises, and the cutoff of capital flows to the developing world hits the poor hard, he said, adding that's a huge challenge for the bank.

Oil prices rise on tight supplies, as IEA warns of global recession

"The OPEC+ ... plan ... has derailed the growth trajectory of oil supply through the remainder of this year and next, with the resulting higher price levels exacerbating market volatility and heightening energy security concerns," the IEA said on Thursday.

World Bank sees rising risk of global recession in 2023

The world's three largest economies - the United States, China, and the euro area - have been slowing sharply, and even a "moderate hit to the global economy over the next year could tip it into recession," the bank said in a new study.

Industrial metal prices melt as global recession fears flare up

Copper and iron ore back under pressure on worries over high energy costs and China strains

Leadership vacuum heightens worries as crises loom in UK

The country has a caretaker prime minister who is preparing to depart, there is a war of words between his two potential successors, Parliament is not in session and it is vacation season, too.

Cooling semiconductor sales heighten fears of a global recession

Semiconductor sales rose 13.3% in June from a year earlier, down from 18% in May, data from the global peak industry body showed. The current slowdown is the longest since the US-China trade war in 2018.

Eurozone economy grows faster than expected, but so do prices

In the 19 countries that use the common European currency, consumer prices jumped 8.9% in July compared with a year ago as inflation reached a fresh record, the third straight month of gains.

US economy shrank 0.9% last quarter, its 2nd straight drop

Thursday’s first of three government estimates of GDP for the April-June quarter marks a drastic weakening from the 5.7% growth the economy achieved last year.