JPMorgan analysts have raised the recession risk to 60 percent as the stock market tumbled following President Donald Trump’s “Liberation Day” tariffs announcement.
Trump announced at least 10 percent blanket tariffs on all countries — except for Russia — Wednesday, sending investors into a panic. The Dow dropped 1,000 points at opening on Friday after China placed retaliatory 34 percent tariffs on U.S. goods. That followed a historically bad day Thursday for the Dow and NASDAQ stock markets, which saw significant drops in both.
