On April 2, President Donald Trump launched a barrage of steep tariffs, dubbing it “Liberation Day” and igniting a full-scale trade war between the U.S. and China. The markets recoiled, and stocks plummeted. While a partial rollback came a week later, the damage was done. The specter of a recession looms large, with major banks now pegging the odds north of 40%.
Amid this volatility, investors are flocking to recession-resistant plays - and biopharma is gaining favor. RBC analysts highlight that biotech stocks, particularly mid-cap names, may offer that rare blend of defense and upside. Historically, the sector has shown uncanny resilience in downturns, shedding minimal value when broader markets crater.
