Recession Looms? 😱 - Price Prediction

U.S. stocks, alas, displayed a most indecisive nature on Friday, whilst the U.S. dollar, in a fit of pique, slipped to multiyear lows. This, all amidst the disquieting uncertainty emanating from President Donald Trump’s trade war with China, a most uncivilized affair. Mr. Larry Fink, the esteemed Blackrock boss, in a conversation with CNBC on Friday, did opine that the U.S. economy stands upon the very precipice of, “if not indeed within, a recession at this very moment.” 😩

Recession Risk Looms, Blackrock Boss Says

The DYX Dollar Index, in a rather dramatic fashion, dipped to a three-year low against a coterie of fiat currencies, marking a paltry 99.314 during the early hours of commerce. At this juncture, the index languishes at 99.827. On Friday morning, the Nasdaq composite, Dow Jones, and S&P 500 endured trifling losses, whilst bitcoin (BTC) clung precariously just below the $82,000 mark. Gold, however, in a display of unseemly exuberance, continues its impressive ascent, appreciating by a notable 1.75% today and a staggering 6.64% over the last five days, now trading at the exorbitant sum of $3,231 per ounce. 🤑

During an interview on CNBC’s “Squawk on the Street” with Blackrock’s CEO Larry Fink, the head of the financial titan expressed a pessimistic view of the U.S. economy. Fink conceded that U.S. President Donald Trump halted some of reciprocal tariffs for 90 days, excluding China, but anticipates a contraction in growth during that interval. One shudders to think!

“I think you’re going to see, across the board, just a slowdown until there’s more certainty. And we now have a 90-day on the reciprocal tariffs — that means longer, more elevated uncertainty,” Fink detailed during his “Squawk on the Street” discussion with CNBC hosts. The financial mogul’s pronouncements followed Blackrock’s Q1 2025 earnings release, a matter of no small consequence, I assure you.

Fink added during his CNBC interview:

I think we’re very close, if not in, a recession now.

Over the past few days, the U.S.-China trade conflict has intensified markedly, with both nations levying steep tariffs on each other’s goods. As of April 11, 2025, President Trump has increased tariffs on Chinese imports to a minimum of 145%, targeting sectors such as steel, aluminum, agriculture, and energy. In retaliation, China raised tariffs on U.S. goods from 84% to 125%, effective Apr 12, while also enacting export restrictions on rare earth materials and lodging complaints with the World Trade Organization (WTO). Oh, the audacity! 😠

These measures have amplified concerns about a global economic slowdown and significantly disrupted markets. In a recent broadcast, Chinese President Xi Jinping maintained that “there are no winners in tariff wars, going against the world will only lead to self-isolation.” A sentiment, perhaps, worth pondering. 🤔

2025-04-11 18:58

Recession Risk Looms, Blackrock Boss Says

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