Wall Street's view of a 'Kevlar economy' has just been shattered, but red flags were lurking under the radar

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• Just as Wall Street was warming up to the hope that the U.S. economy was bulletproof amid President Donald Trump’s trade war, the recent batch of indicators has punctured that notion. But not everyone was surprised, as some economists had previously sounded the alarm on various red flags that are associated with downturns.

The recent batch of indicators has punctured the notion on Wall Street that the U.S. economy is bulletproof and can withstand headwinds like President Donald Trump’s trade war.