Warning signs of a recession as US indices all take a sharp fall
- US Market
- 5 months ago
Wall Street had a disastrous session as the major indices all fell by 3%, as yields of US and UK 10-year government bond yields dipped below those of shorter-maturity debt for the first time since the financial crisis.
Along with that below-par data from Germany and China hindered the situation, prompting the former Fed Chief Janet Yellen to claim that the likelihood of a recession is greater.
The DJIA fell by 3.05%, its largest margin since December 2018, while the S&P 500 which tumbled by 2.9% and the Nasdaq by 3.02%.
Bank stocks saw a sharp selloff as BoA shares fell by 4.6%, Citigroup shed 5.4% and even JPMorgan fell by 4.1%.
Source: Smart Trend Team