Part 3/7:
Not only have American markets been affected, but European stocks have also suffered, with the Stoxx 600 index plunging nearly 2% and Japan's Nikkei 225 falling by 4.1%. Industry leaders are expressing profound concerns, with BlackRock CEO Larry Fink remarking that "protectionism has returned with force," signaling heightened anxiety about the broader economic landscape.
Wall Street is responding to the uncertainty, as evidenced by cut forecasts from analysts, including Goldman Sachs, which has raised recession probabilities over the next year to 35%. The S&P 500 concluded Q1 down 4.6%, marking its most disappointing performance since Q3 of 2022.