The US economy is on "fertile ground" to see a recovery in the second half of 2025, Wells Fargo says.

European and Asian stock markets and US futures all rose on Tuesday after a painful sell-off sparked by the imposition of US trade tariffs.

The odds of the United States experiencing a recession in 2025 climbed to over 60% on the Kalshi prediction market amid fears of a prolonged trade war.

Fitch estimates the changes will raise the overall US ETR to about 25%, which would be significantly higher than the 18% it had assumed for 2025 in the March GEO and the highest rate for more than 115 years.

Stock markets posted big losses on Monday as investors fear a global trade war. President Donald Trump has given no sign of backing down on tariffs.

The U.S. Energy Information Administration said on Monday it is delaying publication of the "Short-Term Energy Outlook" (STEO) report, amid a plunge in oil prices to near four-year lows over growing concerns of a global recession.

President Trump laid out his long-awaited tariff plans — and Wall Street economists are reacting with recession warnings.

Michael Feroli , chief economist at JPMorgan, described Trump's new tariffs as "the largest tax increase" since the Revenue and Expenditure Control Act of 1968, which imposed a 10 percent surtax on individual and corporate income taxes in an effort to curb inflation and reduce the budget deficit during the Vietnam War.

The US economy could be heading for a sharp slowdown "very very soon," an analyst said on Wednesday. Price targets for the S&P 500 have been edging lower.

Markets are up on the back of news that countries are lining up to negotiate the tariffs with Trump's administration.