President Trump's introduction of "reciprocal" tariffs triggered a sharp decline in stock markets, elevating recession risks amid rising concerns over financial stability. Following an initial 15% dip in the S&P 500, a temporary 90-day pause in tariffs sparked a significant market recovery. Despite this rebound, industry leaders warned of potential recession indicators, with BlackRock's CEO suggesting many CEOs believe the economy may already be experiencing contraction. Additionally, the housing market is under scrutiny, as stakeholders consider the tariffs' long-term effects on property investments versus stock returns.
"Most CEOs I talk to would say we are probably in a recession right now," BlackRock CEO Larry Fink said at an event for the Economic Club of New York on April 7, according to CNBC.
"One CEO specifically said the airline industry is a proverbial bird in a coal mine-canary in the coal mine-and I was told that the canary is sick already," Fink added.
However, the market saw some recovery just hours later when the president instituted a '90-day pause' on the tariffs, lowering them to 10% for all countries except China.
The continued financial volatility has seen several industry titans warn that America could be at risk of another recession -with some going as far as to claim that it has already happened.
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