Is US headed for a recession?

Just days ago, the US economy was showing signs of solid momentum. Job growth was strong, wages were rising, and consumer spending remained resilient. But a sudden escalation in trade tensions has drastically shifted the economic outlook and not for the better.

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On April 2, President Trump announced sweeping new tariffs on nearly all US trading partners, calling it 'Liberation Day.' Markets reacted swiftly. In just two trading sessions, more than $6 trillion in stock market value was erased, with the S&P 500 suffering its sharpest back-to-back losses since 2020. The index fell 4.8% Thursday and another 6% Friday after China retaliated with 34% tariffs on US goods. Some analysts predict a 'Black Monday' when the markets open April 7.