Dow drops 900 points, and Japanese stocks suffer worst crash since 1987 on U.S. economy worries

The S&P 500 was down by 3.1% in morning trading, coming off its worst week in more than three months. The Dow Jones Industrial Average was down 956 points, or 2.4%, as of 10:10 a.m. Eastern time, and the Nasdaq composite slid 4%.

“The Fed could respond by stopping” the shrinking of its holdings of Treasurys and other bonds, he said. “That could at least by a symbolic action that they’re not blind to what’s going on.”, and a recession is far from a certainty. The Fed has been clear about the tightrope it began walking when it started hiking rates sharply in March 2022: Being too aggressive would choke the economy, but going too soft would give inflation more oxygen and hurt everyone.

U.S. stocks pared their losses a bit Monday morning after a report said growth for U.S. services businesses was a touch stronger than expected. Growth was led by businesses in the arts, entertainment and recreation businesses, along with accommodations and food services, according to the Institute for Supply Management.

had propelled the S&P 500 to records this year, even as high interest rates weighed down much of the rest of the stock market. Wall Street has been concerned about how policies coming out of November could impact markets, but the sharp swings for stock prices could also affect the election itself.Multiple people were injured and rushed to nearby hospitals after an early-morning shooting in Seattle’s First Hill neighborhood broke out.Seattle police arrested two men and seized guns, drugs and cash on July 24 during patrols along the Aurora Avenue Corridor.

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