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Botched update by security software maker CrowdStrike has left companies struggling to recover

The federal government will have less capacity to respond, and the economy could enter a recession by the end of this year, Mark Spitznagel predicted.

More details about the investigation are expected to be made public in the coming week when FBI Director Chris Wray appears before the House Judiciary Committee.

“We know that adversaries and bad actors will try to exploit events like this,” CrowdStrike CEO George Kurtz said.

A faulty software update from cybersecurity firm CrowdStrike affected 8.5 million devices globally that rely on the Microsoft Windows operating system.

“US high yield is the trade. It is more domestic-focused and exposed to US economic activity.”