Goldman Sachs raises odds of U.S. recession to 45%, second hike in a week

News Snapshot:

Goldman Sachs has raised the odds of a U.S. recession to 45% from 35%, the second time it has increased its forecast in a week amid a growing chorus of such predictions by investment banks due to an escalating trade war. Goldman has raised its estimate from 20% early last week on fears that U.S. President Donald Trump’s planned tariffs would roil the global economy. Days later, Trump announced steeper-than-expected duties, which have ignited a sell-off in global markets. Since then at least seven top investment banks have raised their recession risk forecasts, with J.P.Morgan putting the odds of a...