Global Brokerages Raise Recession Odds; J.P. Morgan Sees 60% Chance

J.P. Morgan ratcheted up its odds for a U.S. and global recession to 60%, as brokerages scrambled to revise their forecast models with tariff distress threatening to sap business confidence and slow down global growth, Reuters reported.

- FPJ News Service MUMBAI

The Trump administration imposed tariffs on dozens of countries earlier this week. China retaliated on Friday with its own levies on U.S. goods, adding to worries about an escalating trade war and wreaking havoc on global financial markets.

J.P. Morgan said it now sees a 60% chance of the global economy entering recession by year end, up from 40% previously.