Stocks are sinking the most since the COVID-19-fueled sell-off in 2020. A global trade war seems imminent. JPMorgan Chase just raised its estimated probability of a recession to 60%. What's the common denominator behind all this bleak news?

With President Trump announcing sweeping tariffs on imports, businesses that rely on goods from out of the country are worried.

President Donald Trump said that large corporations are unconcerned about his sweeping tariff campaign, which had sparked the worst selloff in stocks since the Covid-19 pandemic, and he implied that they are instead focused on a legislative package that would fast-track a renewal of his 2017 tax cuts.