NEW YORK — Stocks are falling Friday as worries flare about the banking system and the painful effects of high interest rates meant to drive down inflation.
Some of the market’s sharpest drops were again coming from the financial industry, where stocks tanked for a second day. Such hikes can undercut inflation by slowing the economy, but they also drag down prices for stocks and other investments and raise the risk of a recession later on. “This is a warning sign that the liquidity is draining, and the most vulnerable areas are starting to show it, which tells me the rest of the economy is not too far behind,” Schutte said.
But the data also showed a slowdown from January’s jaw-dropping hiring rate. More importantly for markets, average hourly earnings for workers rose by 0.2% in February from January. The yield on the 10-year Treasury plunged to 3.73% from 3.91% late Thursday, a sharp move for the bond market. It helps set rates for mortgages and other important loans.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Herkunft: WSJ - 🏆 98. / 63 Weiterlesen »
Herkunft: WSJ - 🏆 98. / 63 Weiterlesen »