Diabytes
US recession News
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Trump’s reciprocal tariffs triggered a massive sell-off across Wall Street, with the Dow Jones plunging over 2,000 points, the S&P 500 witnessing its worst two-day sell-off since March 2020, and the Nasdaq entering bear market territory.
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The outlook for the global economy next year is darkening, with a US recession and China becoming the first major emerging market to slash interest rates to zero both potential scenarios, according to Citi.
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Noting that his country has bounced back from its worst ever recession, US president Barack Obama has said America is now the top place for investors to do business.
The contraction in the world`s largest economy was the steepest since the 2009 first quarter.
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