WEST PALM BEACH, Fla. — Another day of losses on Wall Street is fueling fears among consumers.
WPTV hit the streets again to ask the public how they're handling back-to-back days of tumbling stocks, with the S&P 500 plummeting 6% on Friday.
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"I'm very concerned," Mark Silver told WPTV on Friday along Clematis Street in West Palm Beach. "I'm going to keep going on, but we all see our 401Ks and our retirement money shrink."
"It's troublesome when you see it go down so far and you're already living paycheck to paycheck," Laurie Martin told WPTV.
The losses have now led firms like JP Morgan to predict the possibility of a recession at 60%.
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"Make no mistake about it, the possibility of a recession in 2025 is very much with us," Mark Hamrick, chief economist at Bankrate.com, said.
At this point, Hamrick said nothing is certain. Tariffs could be withdrawn or scaled back by the White House or could linger for a longer time.
"I think it's very prudent to forecast that inflation is going to start going up again," Hamrick said. "Prices are already elevated and that's the last thing consumers want to see or are prepared to handle."
