Experts are predicting a "procession of recessions" within one year. The economies of several major countries could contract in the coming months. Palki Sharma tells you why the global economy needs to brace for impact.

Gravitas: Several major economies stare at a recession

Many of the world’s leading economies will fall into a recession within the next 12 months as central banks move to aggressively tighten monetary policy to fight surging inflation, according to global agency Nomura holdings. Molly Gambhir tells you more.

WION Fineprint | These major economies are headed into a recession by 2023

Nearly 12 major economies are staring at a recession, this includes big nations like United States, United Kingdom, Japan, South Korea, Australia, Canada.

Global recession fears loom large, major economies heading into recession?

With the euro steadying after dropping to a two-decade low and oil back above $100 a barrel following a near 10% plunge a day earlier, tentative calm returned to global markets on Wednesday.

Global Recession: Euro steady after dropping to a two-decade low, oil prices bounce back

Euro hit a 20-year low against the dollar since 2002 as data pointed to a growing recession risk in the eurozone on Tuesday, as reported by AFP. The euro also dived as investors eyed aggressive interest rate hikes by the US Federal Reserve in its fight against inflation, in contrast with the European Central Bank which plans more modest increases.

Euro hits 20-year low against dollar after US hikes interest rate

Euro hits 20-year low against dollar as recession risk escalates

Oil prices fell in early Asian trade on Monday, paring gains from the previous session. Oil supply remained tight amid lower OPEC output, unrest in Libya and sanctions on Russia.

Oil prices slip as recession fears rumble on

Amid recession fears in the US, IMF's managing director Kristalina Georgieva said the country is facing a "narrowing path to avoid a recession". "The economy continues to recover from the pandemic and important shocks are buffeting the economy from the Russian invasion of Ukraine and from lockdowns in China," the IMF managing director said, adding, "Further negative shocks would inevitably make the situation more difficult.

US faces 'narrowing path' to avoid recession: IMF; growth forecast slashed

Eurozone economic growth deteriorated sharply to a 16-month low in June, according to preliminary PMI data by S&P Global, an American publicly traded corporation, reflecting a fall in demand growth.

Eurozone economy at a 16-month low in June due to Ukraine war and pandemic disruptions: Report

South Korean won fell below the psychological threshold of 1,300 per US dollar for the first time in 13 years amid global economic recession worries.

South Korean won falls the most for first time in 13 years

After witnessing a temporary relief on Tuesday, Global Stock Markets once again tumbled today on global recession fears. Oil prices and shares have hit the skids as the persistent palpitations about rising interest rates and recessions struck again.

Fears of global recession mount; stock, oil market rumble

Goldman Sachs, an American multinational investment bank and financial services said it now thinks there is a 30% chance of the U.S. economy tipping into a recession over the next year, up from its previous forecast of 15%, as reported by Reuters.

Goldman Sachs forecasts 30 per cent chance of US economy tipping into recession: Report

Amid a decline in his approval ratings, US President Joe Biden spoke on inflation that has gripped the US economy. He says that Recession is not inevitable.

US President Joe Biden speaks on Inflation: 'Recession is not inevitable'

World stocks on Friday closed out their steepest weekly slide since the pandemic meltdown of March 2020, as investors worried that tighter monetary policy by inflation-fighting central banks could damage economic growth.

Stocks in biggest weekly loss since 2020 on interest-rate worries

Today is the last trading day of the week and clearly, it's not going to be as good as it was last year. Yesterday, US stock markets closed sharply lower in a broad sell-off.

Wall Street plunges as recession fear grows

Global economies are facing trouble in a post-pandemic world. Inflation is now the biggest challenge in achieving that, Central Banks around the world are aggressively tightening their monetary policies.

Global Market Meltdown: Aggressive rate hikes to fight inflation

US stocks sunk to a new low on Monday as the S&P 500 fell 3.9 per cent to 3,749.82 entering the "bear market" phase. Wall Street stocks fell for the fourth consecutive day on Monday amid fears of a recession.

Wall Street stocks crash; S&P 500 enters 'bear market' amid recession fears

Oil prices rose about 1 dollar in volatile trade on Tuesday as tight global supplies outweighed worries that fuel demand would be hit by a possible recession and fresh COVID-19 curbs in China.

Oil prices rise as tight supply counters China COVID, recession worries

Boris Johnson is leading an economy that is on the brink of recession. Fixing a flagging economy is one of the key challenges for Johnson. He is expected to promise a reset today and will outline plans to tackle Britain's cost of living crisis.

UK economy is on the brink of recession, Johnson under pressure to cut taxes

Tesla CEO Elon Musk intends to cut about 10% of jobs in the company as has a "super bad feeling" about the economy, he said in an email to executives on Thursday.

Elon Musk may cut 10% jobs in Tesla, he has 'super bad feeling' about economy

Business and political leaders have gathered for the World Economic Forum's annual Davos summit is back in person, two years after the covid-19 pandemic. While the bigwigs enjoy the clear blue skies, concerns have been raised regarding dark clouds looming over the world economy.

Leaders warn of possible recession at Davos summit 2022

Varied number of topics are being discussed at the WEF summit in Davos but is anyone suggesting any solution to these problems? WION's business editor Sumit Chaturvedi brings us all the exclusive ground report.

IMF: Economic horizon has darkened, some nations may face recession | WEF Davos Summit

Hungarian Prime Minister Viktor Orban on Monday raised the spectre of an "era of recession" in Europe as the continent grapples with surging energy costs and rising inflation due to the war in Ukraine.

Hungary PM Orban warns of "era of recession" in Europe

Goldman Sachs Senior Chairman and former CEO Lloyd Blankfein has warned that companies and consumers should prepare for a recession in the US.

US Recession possibility 'very high risk factor', Goldman Sachs warns of growth forecast

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