Tariff / Recession impact on Return Offers

Almost certainly yes. In the past 1.5 months alone, Meta has shed around $500 billion in market cap, and it will likely keep shrinking alongside the rest of the US economy.

Make sure to really follow the advice from the intern course: The Software Engineer Internship Survival Guide

Even in 2023, there were still some return offers. It was only for rockstar interns (Top 5%), but that's better than 0.

Zooming out outside of the internship, this is why it's still important (and more so now) to do things like networking (make a ton of friends during your internship!), side projects, open-source, etc. You need every possible advantage you can get.

Unfortunately, yes 😐 What is most damaging for companies is uncertainty. And the recent downward spiral in the market has led to lots of uncertainty.

Regardless, there's nothing you can do about this. Just focus on being a top-performing intern, and remember there's a lot of value in an internship beyond just the return offer.