Polymarket, an offshore betting platform, shows a 62% chance of a recession occurring in the U.S. this year, cooling down Monday afternoon after peaking at 66% on Sunday, when Goldman Sachs economists said they expect a recession to occur if the Trump administration goes through with its tariff rates.

Traders on Kalshi are placing a 61% probability on the US entering a recession in 2025, following Trump’s tariff order announced on April 2.

While some analysts don't expect the tariffs to last long, betting market speculators have dim outlooks.

The new wave of President Trump’s tariffs starts at midnight. NBC News’ Christine Romans and Melanie Zanona have the latest reporting. Veda Partners managing partner and director of economic policy research Henrietta Treyz and staff writer at The Atlantic Ashley Parker join Chris Jansing to provide more insight on the potential impact.

The older you are, and the more likely you are to get laid off, the more important it is to have liquid savings.

Trump's sharp tariff hikes last week have heightened many economists' worries that the US could tip into recession.

One economist told Channel 2’s Richard Elliot that a recession is inevitable. Georgia Tech economics professor Tibor Besedes specializes in international trade. He said the tariffs are based more on politics than on any economic theory and that the formula used by the White House to calculate them is fundamentally flawed.

It could be another awful day on Wall Street after President Trump's tariffs. Investors are now worries the trade war could spark a global recession and higher inflation.