Markets are plunging amid fears Trump is going to push the economy into a recession
CNBC he wouldn’t count on it. “I have to yield to the historical evidence and note that the phrase ‘this time is different’ usually doesn’t work,” he said, noting the Trumpian headwinds we’re facing. “It’s a very unusual time period: We haven’t had tariff issues like we’re dealing with currently in about 80 years. It’s about dealing with negative rates in most of the European countries and Japan. Again, I have respect for the inverted yield curve as a signal that recession is ahead.
Also rattling investors is an apparent recession in Germany, which generates a sizable portion of its GDP from trade, and which may be a bellwether for how Trump’s tariffs are weighing on the global economy. PerInvestors are increasingly worried about a global economic slowdown as weaker-than-expected data in China deepened the gloom in the world’s second-largest economy. Official data published Wednesday showed growth of China’s industrial output slowed to 4.
Adding to the fears is Germany’s GDP which shrank by 0.1% between April and June, fueling fears of a recession for Europe’s largest economy. Euro zone GDP also grew by just 0.2% quarter-on-quarter, a significant slowdown from the 0.4% growth reported in the first three months of the year.
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