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<ul class="summary-list"><li>Trump's win has upped the risk of a dire economic scenario, Nouriel Roubini says.</li><li>His policies could lead to stagflation, a fate experts have said is <a target="_blank" class="" href="https://www.businessinsider.com/stagflation-recession-us-economy-outlook-gdp-dimon-inflation-rate-cuts-2024-4">worse than recession</a>.</li></ul>Donald Trump's proposed economic agenda raises the risk of one of the worst-case scenarios for the US economy, according to Wall Street's "Dr. Doom" economist.<a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/who-is-nouriel-roubini-dr-doom-economy-recession-financial-crisis-2023-4">Nouriel Roubini</a>, the top economist known for his bombastic and frequently bearish prognostications, said he foresaw a challenging environment for the economy once Trump begins his second term as president. That's because Trump's proposed policies could spark a period of <a target="_blank" href="https://www.businessinsider.com/stagflation-recession-us-economy-outlook-gdp-dimon-inflation-rate-cuts-2024-4">stagflation</a> for the economy, Roubini said, a situation some economic experts have described as even worse than a recession. In such a scenario, the economy would see a period of sluggish growth, soaring prices, high interest rates, and <a target="_blank" href="https://www.businessinsider.com/us-economy-stagflation-disaster-high-prices-inflation-high-unemployment-2022-3#:~:text=Normally%2C%20during%20a%20recession%20or,the%20corresponding%20relief%20on%20costs.">rising unemployment</a>.Roubini pointed to Trump's plans to levy <a target="_blank" class="" href="https://www.businessinsider.com/stock-market-outlook-recession-fears-jump-trump-trade-war-tariffs-2024-11">steep tariffs</a> on Chinese goods, <a target="_blank" class="" href="https://www.businessinsider.com/tax-cut-tariff-plan-outlook-presidential-election-scenarios-harris-trump-2024-10">cut taxes</a>, implement "draconian" <a target="_blank" class="" href="https://www.businessinsider.com/trump-harris-immigration-jobs-arizona-economy-mass-deportation-employment-wages-2024-10">restrictions on immigration</a>, and potentially <a target="_blank" class="" href="https://www.businessinsider.com/trump-control-federal-reserve-jerome-powell-tariffs-inflation-2024-9">erode some of the Fed's independence</a>."If they were to follow those latter types of stagflationary policies, inflation will be higher, growth will be lower, bond yields will be higher because there is more inflation and more real rates with unsustainable deficits," Roubini said in an interview with <a target="_blank" class="" href="https://www.bloomberg.com/news/videos/2024-11-12/economist-roubini-says-bond-vigilantes-may-curb-trump-policies?srnd=phx-technology">Bloomberg</a> on Monday. "That's going to crowd economic growth, and bond yields above 5% would imply a correction of stock prices and negative impacts on the economy."Other experts have warned some of Trump's policies could lead to <a target="_blank" class="" href="https://www.businessinsider.com/trump-tariffs-higher-inflation-fed-interest-rates-taxes-mortgage-rates-2024-11">higher inflation and interest rates</a>, with his <a target="_blank" class="" href="https://www.businessinsider.com/fed-rate-cuts-uncertainty-trump-presidency-inflation-tariffs-2024-11">tariff plan</a> attracting significant <a target="_blank" class="" href="https://www.businessinsider.com/trump-harris-economy-outlook-inflation-job-market-election-paul-krugman-2024-10">criticism</a> from economists. Trump implemented tariffs during his first term without a significant increase in inflation, but forecasts are different this time around given that his proposals are much more sweeping, with tariffs targeting not just China but the rest of the world as well. Trump has pushed back on the idea that his policies will stoke higher prices. In August, the president-elect swore his policies would <a target="_blank" class="" href="http://lower.In">lower inflation</a>. In the week leading up to the election, Taylor Rogers, a Republican National Committee spokesperson, <a target="_blank" class="" href="https://www.businessinsider.com/cost-expensive-goods-price-impact-presidential-election-scenarios-trump-harris-2024-10">told BI in a statement</a> that Trump would "once again cut taxes and unleash American energy to lower prices on groceries and other goods."But Roubini, who has warned of a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/dr-doom-nouriel-roubini-stagflation-debt-crisis-crash-federal-reserve-2022-12">stagflationary crisis</a> in recent years, has insisted <a target="_blank" class="" href="https://www.businessinsider.com/dr-doom-roubini-trump-stagflation-tariff-immigration-dollar-inflation-recession-2024-10#:~:text=Stagflation%20occurs%20when%20inflation%20keeps,that%20tumbles%20into%20this%20situation.&amp;text=Typically%2C%20central%20banks%20lower%20interest,away%20if%20prices%20keep%20rising.">stagflation risks</a> will rise during Trump's presidency. Prior to Trump's election win, Roubini said the cost of tariffs could be passed onto consumers, and that restricting immigration could chip away one of the economy's main catalysts for growth.Trump following through with all of his proposals would also likely increase the federal debt balance by nearly $10 trillion over the next decade, Roubini estimated. "The <a target="_blank" class="" href="https://www.businessinsider.com/trump-inflation-interest-rates-fed-rate-cuts-fomc-meeting-outlook-2024-11">Fed will have to cut less</a>, maybe eventually stop sooner," Roubini said of interest rates, adding that the Fed could potentially even raise interest rates if stagflation sets in. "And then the Fed and Trump will be on a collision course."Still, Roubini acknowledged uncertainties with the economic outlook. Some of Trump's policies — like his plans to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/bank-stocks-donald-trump-victory-reelection-wall-street-outlook-regulation-2024-11">loosen regulation</a> — could prop up business activity and fuel growth, Roubini noted.Markets also may be optimistic that they'll be able to reign in the future president by staging a selloff in bonds and equities, Roubini said. Other commentators have noted Trump is likely to <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/trump-policies-tax-cuts-inflation-government-debt-deficit-jeremy-siegel-2024-11">appease stock and bond investors</a> to avoid upsetting a booming market. "I think markets are still in a wait-and-see to figure out whether the policies are going to be hurting the economy," Roubini said. "Maybe the markets believe that the market discipline is going to discipline hin in advance, knowing that policies are not sustainable, are going to lead to bond market vigilantes and the stock market punishing him."Stocks took off in a <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-sp500-crosses-6000-level-investors-cheer-trump-2024-11">record-setting rally</a> last week after Trump secured his election victory. US stocks saw around $20 billion in inflows on Wednesday, according to Bank of America, the largest single-day stock purchasing boom in five months. The Dow Jones Industrial Average and the S&amp;P 500 <a target="_blank" class="" href="https://markets.businessinsider.com/news/stocks/stock-market-today-dow-crosses-44000-key-cpi-inflation-data-2024-11">closed at records on Monday. </a>

Trump's policies could usher in stagflation and send stock prices plummeting, 'Dr. Doom' economist says

Both <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> and <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> closed the week in red, as <keyword id="19896382" type="General" weightage="20" keywordseo="Sensex" source="keywords">Sensex</keyword> closed at 79,032.73 points, down by 0.27%, while <keyword id="19896381" type="General" weightage="100" keywordseo="Nifty" source="keywords">Nifty</keyword> closed at 24,010.60 points, down by 0.14%. As for sectoral indices, <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">pharma</keyword> and <keyword id="20051327" type="General" weightage="20" keywordseo="oil-and-gas" source="keywords">oil and gas</keyword> took the lead, rallying by 1.11% and 1.64%, respectively, during the day. Nifty bank, financial services, and media closed the day in red, while Nifty private banks lost as much as 1.24% today. <keyword id="22216266" type="General" weightage="20" keywordseo="Dr-Reddy" source="keywords">Dr. Reddy</keyword> (up by 2.63%), <keyword id="19923397" type="General" weightage="20" keywordseo="ONGC" source="keywords">ONGC</keyword> (up by 2.56%), <keyword id="19936674" type="General" weightage="20" keywordseo="Reliance" source="keywords">Reliance</keyword> (up by 2.18%), SBI Life (up by 1.88%) and Hero Moto Corp (up by 1.91%) remained the day's biggest gainers. Axis (down by 1.95%), ICICI (down by 1.86%), Kotak (down by 1.51%), and IndusInd Bank (down by 1.48%), along with Bharti Airtel (down by 1.82%), lost significant ground during the day. Out of the 2,758 stocks traded during the day, 1,495 saw advances, while 1,180 saw declines. Prices of 128 stocks hit their 52-week high, while 18 stocks hit their 52-week low. Mr. Ajit Mishra, SVP, Research, Religare Broking Ltd., notes that the markets traded within a narrow range throughout the day, closing nearly unchanged after a recent surge. 'Initially positive, the session saw profit-taking in key heavyweights that offset early gains, resulting in the Nifty settling around 24,009.30 levels, down by 0.15%. Despite this, sectors like <keyword id="6357014" type="General" weightage="20" keywordseo="energy" source="Orion">energy</keyword>, <keyword id="19933821" type="General" weightage="20" keywordseo="pharma" source="keywords">pharma</keyword>, and metal ended in positive territory, contributing to gains of around 0.5%–0.9% in broader indices..". "Looking ahead, there's a possibility of consolidation in the benchmark index following recent upward movement, with support expected around the 23,700–23,900 range on any declines. Banking stocks are currently consolidating, while sectors such as IT, <keyword id="6357014" type="General" weightage="20" keywordseo="energy" source="Orion">energy</keyword>, and FMCG are buoying the index higher. Similar market dynamics are anticipated in the upcoming session, so traders should strategize accordingly," he continued. Rajesh Bhosale, Equity Technical Analyst, Angel One saw this as an exceptional week for the market, and cautioned that some cooling was on the cards. "It was an exceptional week for the bulls as markets reached new milestones. The week began on a negative note on Monday, with prices testing the previous week's lows. However, the bulls saw this as an opportunity and pushed prices higher. Prices continued to climb for four consecutive sessions, surpassing the 24,000 level for the first time. On Friday, the market opened positively and hit a new high of 24174, but some profit-taking in the second half led to a close just above 24000, marking a weekly gain of over 2%," he noted. Amidst all the key events, June was a remarkable month for the markets, with gains exceeding 6.5%. While the market appears to be in a strong bull run, the next move in the coming week might be challenging as oscillators across all major time frames are in overbought territory. Often, overbought conditions indicate potential inherent signs; however, in the near term, a cool-down cannot be ruled out. While taking contra-bets and shorting the market is not advised, taking some profits is prudent, as a correction, either in price or time, is anticipated." Bhosale said. <h2>IPO market</h2>The primary market is gearing up for another stellar period, given that three companies launched their initial public offerings (IPOs) to raise approximately ₹2,208 crore this week. Mahavir Lunawat, Managing Director, Pantomath Capital Advisors Pvt. Ltd. notes that with political stability restored, stock markets are once again on the rise, and the Nifty and Sensex indices have hit record highs. "Optimism is especially pronounced in the IPO market, as Hyundai Motor India, the country's second-largest carmaker, is planning a huge ₹25,000 crore IPO this year, which would be the biggest in India's history. We expect significant capital to be deployed in public markets and strong demand for both new-age and conventional companies in the coming months," he said.

Stock market closing: Nifty, Sensex close the day in red, Dr. Reddy, ONGC shine

<keyword id="20555600" type="General" weightage="20" keywordseo="Dr-Reddys-Laboratories" source="keywords" meta.keywordsubtype="org" meta.entityname="Dr Reddy's Laboratories" meta.hostid="261" meta.entityid="Dr Reddy's Laboratories">Dr Reddy's Laboratories</keyword> and <keyword id="20026907" type="General" weightage="20" keywordseo="Sun-Pharma" source="keywords" meta.keywordsubtype="org" meta.entityname="Sun Pharma" meta.hostid="261" meta.entityid="Sun Pharma">Sun Pharma</keyword> are recalling products in the US due to manufacturing issues, as per the latest Enforcement Report by the US Food and Drug Administration (<keyword id="19914245" type="General" weightage="20" keywordseo="USFDA" source="keywords">USFDA</keyword>). According to the report, Dr Reddy's Laboratories is recalling drugs to treat insomnia and gout in the American market. New Jersey-based Dr Reddy's Laboratories, Inc., a unit of Hyderabad-based drug major, is recalling 13,752 bottles of Eszopiclone tablets, the USFDA stated. The affected lot has been produced at Dr Reddy's Bachupally plant in Telangana. As per the USFDA, the drug firm is recalling the affected lot due to "Failed Impurities/Degradation Specifications". The company issued the Class III nationwide recall on June 4 this year. As per the USFDA, a Class III recall is initiated in a "situation in which use of, or exposure to, a violative product is not likely to cause adverse health consequences". Dr Reddy's Laboratories, Inc. is also recalling 20,520 units of Allopurinol tablets in the US market due to the "presence of foreign substance". The company initiated the Class II nationwide (US) recall on June 7, 2024, the US health regulator said. The USFDA said a US-based unit of Sun Pharma is recalling 2,088 vials of Decitabine for Injection (50mg per vial) due to "CGMP Deviations". The affected lot of the chemotherapy medication was produced at Sun Pharma's Gujarat-based manufacturing plant. New Jersey-based Sun Pharmaceutical Industries Inc. initiated the nationwide Class II recall on July 2 this year. As per the USFDA, a Class II recall is initiated in a situation in which the use of, or exposure to, a violative product may cause temporary or medically reversible adverse health consequences or where the probability of serious adverse health consequences is remote. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/virat-kohli-not-included-in-the-rohit-sharma-led-icc-team-of-the-tournament/slidelist/111398470.cms" target="_blank">Virat Kohli not included in the Rohit Sharma-led ICC Team of the Tournament</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-launching-in-india-in-july-2024/slidelist/111341281.cms" target="_blank">Upcoming cars launching in India in July 2024</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a>

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Trump's policies could usher in stagflation and send stock prices plummeting, 'Dr. Doom' economist says

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Stock market closing: Nifty, Sensex close the day in red, Dr. Reddy, ONGC shine

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