JPMorgan still forecasts economy to contract even as tariff bite decreases - MarketWatch
1. New tariffs reaching 125% may deter purchases from China significantly. 2. JPMorgan forecasts a potential contraction in economic activity later this year. 3. Effective U.S. tariff rates may range from 12% to mid-20% depending on Chinese imports. 4. Fed delays rate cut expectations to September, impacting market sentiments. 5. ES00 futures indicate potential losses after a prior rally.