There is about a 40% chance of a U.S. recession this year and a risk of lasting damage to the country's standing as an investment destination if the administration undermines trust in U.S. governance,

U.S. stocks have suffered their sharpest selloff in months as investors have grown nervous that Trump will slow the economy with import duties.

Just 20 days ago, the US stock market was sitting at all-time highs. The US economy appeared to be growing at a solid pace. And a recession was nowhere in sight.

The signs of a recession, how they affect the public and what you can do to prepare financially in case one comes.

President Trump's expanding trade war is boosting the chances of a recession. Layoffs are rising and consumer confidence and spending are sliding.