Peter Dutton has predicted Australia could be facing “a global recession” as fears emerge the stock market plunge could force Baby Boomers to delay their retirement.

JPMorgan is predicting that the U.S. and potentially the global economy could be pushed into a recession if Trump's reciprocal tariffs remain in place. "The risk of recession in the global economy this year is raised to 60%,

JPMorgan’s economics team has just raised their recession probability to 60% following the aggressive tariff stance announced by U.S. President Donald Trump.

The probability of a U.S. recession in the next 12 months has risen, said a team at Goldman Sachs, citing policy uncertainty, foreign consumer boycotts and tighter financial conditions. The bank's economists raised the odds on a recession to 45% from 35%,

Goldman Sachs 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 Sachs analysts are again raising the odds of a recession as markets continue to reel in the wake of President Trump’s sweeping tariff actions. The bank warned in a new report on Sunday that it increased the probability of a recession in the U.