Stocks begin to stabilize, a day after the Dow posted its biggest fall of 2019: “The market is looking at warning signals, but it’s not yet fully convinced that we’re in danger of a global recession or a major downturn,' says a strategist
By Joanne Chiu, Shen Hong and Caitlin Ostroff Updated Aug. 15, 2019 4:56 am ET • Government bond yields extend declinesGlobal stocks began to stabilize a day after the Dow Jones Industrial Average posted its steepest fall this year on growing fears of a recession.
Stocks in China rebounded from early declines. The Shanghai Composite rose 0.3%, while Hong Kong’s Hang Seng reversed early losses to gain 0.4%. In U.S. markets on Wednesday, the Dow industrials posted its biggest decline this year, after German and Chinese data rekindled concerns about a global economic slowdown, and long-term bond yields fell below shorter-term rates. That inversion of the yield curve sent a fresh warning about the risks of a coming recession.
This week, President Trump abruptly postponed plans to impose new tariffs on about $156 billion in goods from China, but Beijing hasn’t made any subsequent trade concessions.
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