Ethereum’s price saw a pullback on Thursday after hitting highs of $1,700 earlier in the day. Concerns about trade continued to weigh on the cryptocurrency market, prompting other top altcoins like Zcash (ZEC), Tezos (XTZ), and EOS (EOS) to also decline. This retreat mirrored broader declines in the stock markets as well. The Dow Jones and Nasdaq 100 indices fell significantly, indicating a similar bearish trend across financial sectors. 60% of economists at Moody’s believe the US will enter a recession this year. This prediction is based on the ongoing trade tensions between the US and China, with tariffs playing a major role. Mark Zandi, chief economist at Moody’s, highlighted these concerns in a recent X post. While President Trump’s pause on some tariffs did offer a glimmer of hope, Zandi believes this isn’t enough to mitigate the overall threat of recession.