TechFlow news — On March 18, according to Jinshi Data, Macquarie Bank warned in its latest client report that Trump's economic policies could trigger a stock market crash. Unless Trump exits the trade war and cuts spending—currently appearing unlikely—real U.S. consumer spending could slow significantly. As this is the most consistent signal of a bear market, we believe the risk of U.S. equities falling 20% from their Valentine's Day peak is rising. The benchmark U.S. equity index, the S&P 500, has already declined nearly 8% from last month's highs, while the technology-heavy Nasdaq Composite has fallen almost 12% from its peak reached in December last year.
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