The lingering impact of the 2008-2009 Great Recession compounded by the Covid-19 downturn continues to haunt the US economy, stirring concerns about financial stability.
BCA Research, a Canadian investment firm, warns of impending volatility in the US stock market.
BCA Research’s chief global strategist, Peter Berezin, predicts a potential recession by early 2025, foreseeing the S&P 500 plunging to 3,750-a 30% drop from current levels.
He attributes this to expected labor market slowdowns impacting consumer spending, crucial for economic growth, and notes the intricate relationship between inflation and unemployment.
Berezin also highlights global economic challenges, including slowdowns in China and Europe, which could exacerbate pressures on international stock markets.
Despite the Dow Jones Industrial Average hitting record highs in mid-May, recent market turbulence has cast a shadow over future prospects. This pessimistic outlook comes after a tumultuous year for financial markets.
Jamie Dimon, CEO of JPMorgan Chase, has voiced fresh concerns about the state of the U.S. economy, warning that financial markets may be heading into troubled waters—particularly the bond market.
The trade standoff between the U.S. and China took a sharp turn on Friday after President Donald Trump accused Beijing of breaching a recently struck economic agreement.
Despite growing concerns over America’s swelling budget deficit, Citigroup’s U.S. equity strategist Scott Chronert believes the situation could bring short-term gains to the broader economy—even if it comes at a cost to market valuations.
Robert Kiyosaki, author of Rich Dad Poor Dad, is sounding a dire alarm over what he describes as the beginning of financial chaos in the U.S.—a scenario he believes will wipe out millions financially.