Reported 1 day ago
Peter Berezin, a chief strategist at BCA, warns that the U.S. economy is headed for a likely recession due to escalating tariffs imposed by the Trump administration. Following China's retaliatory 34% tariffs on U.S. goods, Berezin predicts the S&P 500 could drop to 4,450, an 18% decrease, as a result of diminishing demand and economic vulnerabilities. He highlights a 'very ugly feedback loop' where reduced consumer spending could lead to decreased employment and further economic decline.
Source: YAHOO