In every corner of the financial markets, from stocks to bonds to commodities, money managers are sending Donald Trump the same unmistakable message: The trade war he unleashed is threatening to set off a worldwide recession — and fast.
After China retaliated against Trump’s tariff hikes, traders are pricing in what increasingly looks like a negative-feedback loop as Trump indicates he’s not going to back down.
The grim signs continued to pile up on Friday, when even a significantly stronger-than-expected U.S. jobs report did virtually nothing to dispel the growing worries about the state of the global economy.
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