Goldman issues recession warning as shares in big four U.S. banks dip

Goldman Sachs says the chances of a recession have spiked, after three US banks collapsed, ailing Credit Suisse was handed a lifeline and shares in the 'big four' slumped.

The investment bank's chief economist Jan Hatzius warned Thursday that there is a 35 per cent chance of the US being hit by a recession in the next 12 months.

That's up dramatically from the 25 per cent chance Hatzius made in his previous prediction.

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