Wall Street strategists warn: The probability of a U.S. recession has increased to 75%

Odaily News Peter Berezin, chief global strategist at BCA Research, said the probability of a U.S. recession has risen since President-elect Trump won the election last week. In a report last Friday, Berezin raised the probability of a recession from 65% to 75%, citing the risk of a new trade war under Trump. "The prospect of a new trade war far offsets the other pro-business parts of Trump's agenda," Berezin said. "Given the weakness in the labor market before the election, the probability of a recession has risen." Berezin added that once clearer evidence of a recession emerges, he plans to adjust his recommendation to "maximum underweight" stocks. (Jinshi)