AsianFin -- Bridgewater Associates’ three Co-Chief Investment Officers—Bob Prince, Greg Jensen, and Karen Karniol-Tambour—have flagged "exceptional risks" to U.S. assets, citing the Trump administration’s aggressive pivot toward a modern "America First" mercantilist agenda.

In a Wednesday newsletter, the world’s largest hedge fund expressed mounting concerns over a potential U.S. recession and vulnerabilities in domestic assets reliant on foreign capital.

“We anticipate a policy-driven economic slowdown, with an increasing likelihood of recession,” the co-CIOs warned, underscoring the challenges posed by shifting trade and fiscal policies.