this post was submitted on 11 Mar 2025
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Economics

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Summary

European markets rose, and the euro hit its highest level against the dollar since the US election, as fears of a US recession—dubbed “Trumpcession”—grew.

The dollar fell 0.5% against major currencies, erasing all post-Trump election gains. New US tariffs on Canada, Mexico, and China, along with possible European levies, fueled concerns.

Global markets stabilized after a sell-off, with Europe’s major indices mostly rising. UBS raised the likelihood of a US downturn to 30%.

Analysts predict further euro gains, with some expecting $1.15 by year-end.

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[–] JoMiran@lemmy.ml 4 points 2 weeks ago

Trumpcession

I like it. Catchy.