bunch of nations’ markets are crashing and the US faces a new recession?

Bruh, we’ve been seeing signals of recession for over 2 years. Jumpy stock markets saw a number they didn’t like and jumped. Whether or not we actually see a recession remains to be seen and depends a lot on how much less jumpy institutions react to the jumpy stock market’s reaction

Economic forecasts and financial decisions by institutions are already factoring in an expected rate cut on September, so I suspect it’s far too soon to be doomsaying that the next recession is here today