JPMorgan Warns: Trump Tariffs Raise Global Recession Risk to 60%

Investment bank JP Morgan announced before the US stock market opened that the risk of the global economy entering a recession by the end of the year is now 60 percent.

That is a big increase from the bank’s previous estimate of 40 percent on March 12.

“Destabilizing US policies have been identified for months as the biggest risk to the global outlook,” Bruce Kasman, chief economist and head of global economic research at JP Morgan, told Bloomberg.

“The latest news only reinforces our fears because US trade policy is developing in a direction that is much less favorable for the business sector than we had expected,” he added.

According to the calculations of the Bloomberg platform, the 500 richest people in the world lost a total of 208 billion dollars yesterday due to a sharp drop in stock prices after the introduction of tariffs by the administration of President Donald Trump.

This is the fourth largest one-day decline in the 13-year history of the Bloomberg Billionaires Index, and also the largest since the peak of the COVID-19 pandemic.

The biggest losses were recorded among the leaders of American technology giants.

Meta founder Mark Zuckerberg lost the most — $17.9 billion — after his company’s stock fell 9 percent, Bloomberg reports.

Jeff Bezos lost $15.9 billion as Amazon shares also sank 9 percent in one day.

Elon Musk lost $11 billion, bringing his total year-to-date losses to $110 billion.

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