Investors flee from risk assets as JPMorgan ups recession odds to 40%

The S&P 500, tech-heavy Nasdaq and Dow Jones Industrial Average all fell heavily this week.

Crypto and tech stocks saw large selloffs on March 10 as fears of a US recession heightened despite efforts from the White House to temper concerns. 

Economists at Wall Street investment bank JPMorgan have raised their recession risk this year to 40%, up from 30% at the beginning of 2025. “We see a material risk that the US falls into recession this year owing to extreme US policies,” wrote the analysts, according to The Wall Street Journal. 

Analysts at Goldman Sachs economists also raised their 12-month recession probability to 20%, up from 15%. They said that the forecast could rise further if the Trump administration remains “committed to its policies even in the face of much worse data.” 

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