The stock market extended its losses today as investor anxiety ratcheted up amid dismal economic data and an inversion in the yield curve
Macy’s shares drop after disappointing earnings report
After a brief but strong rally Tuesday on the announcement that the White House would delay the implementation of tariffs on some goods such as laptop computers and cell phones, the market plunged today as the yield on the 10-year Treasury slipped below that of the 2-year. Meanwhile, investors also bought U.S. government debt, which is also often seen as a safe haven amid market turmoil, and the 30-year Treasury fell to a record low.
It was also interesting to note that former Fed chief Janet Yellen told Fox Business Network that this time around the yield curve inversion “may be a less good signal” of a recession. “The reason for that is there are a number of factors other than market expectations about the future path of interest rates that are pushing down long-term yields,” she said.
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.
European stocks seen mixed after global sell-off on recession fearsEuropean stocks are set for a mixed open Thursday as fragile calm returns to markets following a global sell-off as bond markets stoked fears of an impending recession.
Read more »
Global Stocks Fall on Recession FearsGlobal stocks and government bond yields fell, as weak economic data and ominous signs from the bond market added to fears about slowing growth around the world.
Read more »
Global markets see sharp losses as recession fears stalk investorsGlobal stock markets fell sharply again Thursday after Wall Street endured its worst day of the year as recession fears in the U.S. and around the world escalated.
Read more »
Tyson Foods says Weaver frozen chicken patties are being recalled nationwide over contamination fearsThe unwanted material may include 'pieces from a mechanical seal or gasket,' a Tyson Foods Inc. spokesperson told Newsweek.
Read more »
Latino actors, writers pen 'letter of solidarity' amid fearsActresses America Ferrera and Eva Longoria are leading a group of more than 150 writers, artists and leaders who have written a public "letter of solidarity" to U.S. Latinos after the mass shooting in El Paso, Texas, and an immigration raid in Mississippi. The letter, published Friday in The
Read more »
Record summer temperatures raise climate change fearsJuly was Earth’s hottest month on record – ever. Ali Velshi and Penn State Atmospheric Professor Michael Mann discuss just how quickly global temperatures are rising and why we might now be at the point of no return.
Read more »