Growing fears of a US recession weighed on equities as traders gear up for the release of key jobs data.
Recession fears have pushed safe-haven gold back above $2,000 an ounce and towards a record high.BEIJING - Growing fears of a US recession weighed on equities as traders gear up for the release of key jobs data that could determine the Federal Reserve's next interest rate decision.
On Wednesday, a report from the Institute for Supply Management showed the US services sector grew less than forecast last month, while another pointed to private employers slowing their hiring pace in March. While traders have long hoped for a tightening of the labour market and an economic slowdown that would allow the Fed to stop lifting rates, there is now a rising concern of a deep recession.
The prospect of a recession weighed on US markets with the S&P 500 and Nasdaq in the red, while traders also shifted into safe-haven Treasuries.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian markets mixed as soft US data raises recession fearsAsian stocks drifted after a retreat on Wall Street as data showing a softening in the US jobs market pointed to a slowing economy and fuelled fears of a recession.
Read more »
Burundi's Growing Femicide ProblemAnalysis - As authorities turn a blind eye to the growing cases of violence and spousal murder, women's rights activists are increasingly vocal.
Read more »
The Growing Market for Africa's 'White Gold' Sesame SeedsSesame seeds are more than just seeds on a bun. It is a good source of healthy fats, protein, B vitamins, minerals, fibre, antioxidants, and other beneficial plant compounds. Sesame seeds are also known for its ability to control blood sugar levels and aid in the easing of arthritic pain. It is also used in salad dressings or marinades, for added texture and a nutty flavour. In Africa, the farming of the seed is slowly growing in popularity. For Ethiopia, sesame is one of its three oilseed crops - sesame, soybean and Niger seed - and accounts for 20% of its total agriculture export profits, second only to coffee. Sudan's sesame production is centred around Gedarif state which is known as the country's breadbasket. Tensions have however been growing between Ethiopia and Sudan, where the crops are grown on the border of the two nations, after the Sudanese army occupied the land in late 2020, during the Ethiopia-Tigray war, writes Ahmed Soliman reports forChatham House. In Zimbabwe, some 5,000 farmers have been trained in sesame farming by a private company because they say, it is a cash crop whose seeds are rich in oil and is drought tolerant. Nigeria generates an average of U.S.$1,400 per metric tonne of sesame exported. Sesame seeds, or beni-seeds as they are locally known, are among the most commercially viable crop critical to the agricultural economy of Nigeria. While in Malawi, President Lazarus Chakwera said his government will promote sesame farming as the country yearns for diversification in the agriculture sector.
Read more »
AI bot ChatGPT faces growing scrutiny in EuropeFrance's data regulator said on Wednesday it had received two complaints about the AI program ChatGPT.
Read more »
Sport health | Concerns over collapsing athletesThere has been a growing concern over athletes collapsing on the field of play.
Read more »
Oil rises on Opec+ production cut plansInvestors turn their focus to demand trends and global economy impacts as crude oil futures surge over 6% in Asian markets
Read more »