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U.S. economy to lose billions as foreign tourists stay away

A pullback in foreign tourism and boycotts of American products are adding to a growing list of headwinds keeping the risk of a recession high.

Augusta Saraiva

The IRS is projected to lose more than $313 billion in revenue in the coming decade as undocumented workers are poised to pay fewer taxes.

Americans born after 1995 were spending double what they had in savings in February, one analysis showed.

However, stocks have mostly reversed course in recent weeks, wiping out $5 trillion in gains.

The share of consumers who expect unemployment to rise in the coming year fell to 31%, the lowest reading in 10 months.