Wall Street strategist warns: The probability of a US economic recession has increased to 75%

BCA Research's Chief Global Strategist, Peter Berezin, stated that the probability of a U.S. economic recession has increased since President Trump was elected last week. In a report last Friday, Berezin raised the probability of an economic recession from 65% to 75%, citing new trade war risks under Trump's administration. "The prospect of a new trade war far outweighs other pro-business aspects in Trump's agenda," said Berezin. "Given the weak state of the labor market before the election, the likelihood of an economic recession has risen." Berezin added that once clearer evidence of an economic downturn emerges, he plans to advise adjusting to "maximum reduction" in stocks.