Apple and Facebook send new warnings about the economy

Big tech seems convinced that the global economy is heading into a recession.

Silicon Valley seems to estimate that the economic slowdown will be severe or even brutal. Tech companies and venture capital firms, which fund tech startups, don’t want to be surprised, especially when economic data isn’t very reassuring.

Inflation, which affects both businesses and consumers, is still at levels not seen in 40 years. The headline CPI for June rose 9.1% from a year earlier and up from the 8.6% pace recorded in May, according to data from the Bureau of Labor Statistics published on July 13.

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