India, April 5 -- Global companies are raising alarms over a potential "recession" in the US and worldwide following US President Donald Trump's sweeping tariff measures. Some of the new levies took effect on Saturday, while others are scheduled for April 9. The move has prompted retaliatory action from China and sparked concerns of an escalating trade war that could stall global economic growth.

JP Morgan raised its probability of a US and global recession to 60%, up from 40% last month, citing the growing tariff-related stress on markets and investor confidence. Other major financial institutions also revised their forecasts. S&P Global increased its estimated chance of a US recession to 30-35%, up from 25%, while Goldman Sachs earlier...