Bank of America Merrill Lynch has screened the best stocks to own if a full-blown trade war leads to a global recession.
China escalated its trade dispute with the US on Monday, announcing retaliatory plans to slap 25% tariffs on US goods worth about $60 billion.
Strategists and economists at Bank of America Merrill Lynch laid out their investing advice for the worst-case scenario: a"full-blown" trade war. They advised buying quality companies that do most of their business in the US and are placed in defensive corners of the market. The stock market's seemingly unstoppable rally was halted last week when one of the biggest risks reared its ugly head again.
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