{"id":115938,"title":"U.S. Faces 45% Chance of Recession as Stocks Decline Again","publisher":"Share Talk","author":"sharetalk","published":"2024-08-08T06:56:58+00:00","modified":"2024-08-08T06:56:58+00:00","canonical_url":"https://www.share-talk.com/u-s-faces-45-chance-of-recession-as-stocks-decline-again/","markdown_url":"https://www.share-talk.com/u-s-faces-45-chance-of-recession-as-stocks-decline-again.md","json_url":"https://www.share-talk.com/u-s-faces-45-chance-of-recession-as-stocks-decline-again.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Asian markets","china","JP Morgan","Russia","USA","Wall Street"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/03/USA.webp?fit=1200%2C800&ssl=1","format":"news","language":"en-GB","content":"Wall Street is increasingly predicting that the U.S. will plunge into a recession within the next year as the global stock market downturn continues.\n\nJP Morgan has raised the probability of a recession in the U.S. this year from 25% to 35% and forecasts a 45% chance by the second half of 2025.\n\nEconomist Bruce Kasman noted that U.S. economic news suggests a sharper-than-expected weakening in labour demand and early signs of job cuts.\n\nThis comes after recent employment data revealed that the American economy added far fewer jobs than anticipated, with unemployment reaching a three-year high.\n\nAll major stock indexes on Wall Street fell on Wednesday, and many Asian markets continued to decline overnight following the global sell-off that erased billions from stock values.\n\nJP Morgan warned that about a quarter of the global carry trade, which contributed to the market’s sharp decline, has yet to unwind.\n\nAdditionally, CEO Jamie Dimon expressed scepticism that inflation will return to the Federal Reserve’s 2% target, citing high deficit spending and global military tensions involving China and Russia."}