- In today’s CEO Daily: Diane Brady talks to Publicis New York CEO Carla Serrano.
- The big story: Fear of recession pushed the U.S. stock markets into a correction.
- The markets: While the S&P 500 craters, indexes in Europe and China are doing well.
- Analyst notes from Goldman Sachs on the end of U.S. exceptionalism, UBS on inflation, JPMorgan on steel and war, and Apollo on the “wait-and-see economy.”
- Plus: All the news and watercooler chat from Fortune.
Good morning. I was talking yesterday with Carla Serrano. Along with being CEO of Publicis New York and chief strategy officer of Publicis Groupe, she is a fellow Canadian and we were commiserating about the impact of the ongoing tariff war on a personal level. Her parents are reluctant to come to Fire Island in New York this summer because they’re so angry about the attacks on Canada’s sovereignty, not to mention its economy. “It’s unlocked a certain amount of pride for me,” she says. It’s also causing new headaches as “our clients are requiring not just a plan A, B or C but plans for a worst-case scenario where the world becomes much more isolated and nationalist and different alliances form.”
