Fast-fashion giant Shein is reportedly facing significant losses in the first quarter of 2026, attributed to new US tariffs, as it prepares for a potential initial public offering (IPO) in Hong Kong. The company aims for a valuation between $40-50 billion, but analysts suggest it may struggle to justify this figure given the current economic climate and trade tensions.

The International Monetary Fund has lowered its global growth forecast and issued a warning about a potential worldwide recession. This outlook is largely attributed to the escalating conflict in the Middle East and its impact on energy markets.