Musk not alone with 'bad feeling' on economy

STORY: Tesla CEO Elon Musk said he has a "super bad feeling" about the economy

He made the comment in an internal email seen by Reuters

Where he also said 10% of jobs at Tesla need to be axed

Carsten Brzeski, ING’s Global Head of Macroeconomic Research:

"Musk's bad feeling is shared by many people... But we are not talking about global recession. We expect a cooling of the global economy towards the end of the year. The U.S. will cool off, while China and Europe are not going to rebound."

JPMorgan Chase & Co CEO Jamie Dimon has also warned of a coming “hurricane”

Other companies are slashing jobs or slowing hires

In May, Netflix said it laid off about 150 people, mostly in the U.S.

In February, Peloton said it would cut 2,800 jobs

Meta Platforms, Uber and other tech companies have slowed hiring

All while inflation in the U.S. hovers at 40-year highs

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