Daily Summary

Global bank stocks plunged due to escalating trade tensions and rising recession fears, with major banks from the U.S. to Japan experiencing heavy losses while top executives warn that the current financial crisis will have long-lasting repercussions. JPMorgan’s CEO noted that although the crisis isn’t as severe as the 2008 meltdown, its effects will persist, contrasting with Goldman Sachs’ optimism about a surge in dealmaking in 2025 and the cautious revival of fintech IPOs. Meanwhile, analysts forecast major shifts in global market trends, highlighting emerging markets, a potential decline in momentum investing, and a move away from over-reliance on US-centric economic policies.