What are the biggest threats to financial markets today?

Investors believe that the biggest threats to financial markets (for equities, corporate bonds) are: A recession in the United States or Europe. But as long as interest rates are so low and the solvency of all economic agents is assured, a recession is very unlikely; An across-the-board trade war. But a compromise between China, Europe and the United States seems more likely given the cost of protectionism for all these countries; Resurgent inflation, which would trigger a debt crisis and a recession. But inflation is unlikely to return as long as the functioning of labour markets remains the same. But there are also grounds to fear: The weakening of the Chinese economy; In Europe, the weakening of retail banks, due to the low interest rates; A prolonged recession in Germany, due to the crisis in traditional industry.