Rolling coverage of the latest economic and financial news, as US markets slide after Beijing imposes tariffs on imports of agricultural goods from AmericaAnalysts at investment bank Jefferies remain optimistic about the prospects for the US economy in the second half of 2025 – while also fearing that it may slow more than expected in the first half of the year.In an updated US Economic Outlook, Jefferies tell clients:Broadly, these changes are modest relative to what we were looking for at the beginning of the year. We started out 2025 expecting growth to slow in the first half due to exactly the sort of tensions and uncertainty about policy that we are currently seeing. It now appears that the slowdown will be a bit more pronounced than we expected, but we remain optimistic about the second half of the year and beyond.We expect that the labor market will continue to cool gradually in the months ahead, with downside risks due to government spending uncertainty. We continue to expec...
Wall Street experienced a significant sell-off due to US recession fears and concerns over tariffs imposed by Beijing on US agricultural goods. Tesla's share price fell 50% from its all-time high. Global markets and European markets also declined, with rising volatility and trade tensions contributing to the downturn. The FTSE 100 closed at a one-month low, and the Nasdaq hit a six-month low.
