Markets plunged Friday when a closely watched economic measure warned that sluggish global growth could tip the United States toward recession.
Dragging the Dow were Nike, DowDuPont and Caterpillar. Dow utilities showed strength as investors flocked to safety.The yield on the 10-year Treasury is closely watched in the financial world because many view it as a window on where the economy is headed: up, down or sideways. Yields work inversely to a bond's price.
"The yield curve inversion, coming quickly after a dramatic 'about face' for the Fed, is undermining investor confidence," said Kristina Hooper, global strategist at Invesco. "At the end of the day, we have to remember that an inverted yield curve doesn't cause a recession, it's just a good indicator that one is coming. Investors should not be panicking."The American economy is still remarkably healthy.
"This morning we got new statistics on a slowing economy, from both US and German, adding to the market concern," said Howard Silverblatt of S&P Dow Jones indices.
America has no money, so it can't afford to be in recession. America runs on debt and is $22 trillion in the red. Fort Knox is empty, so there's nothing backing their dollar. The US dollar is so artificially inflated, it's a party balloon appearing the size of a jumbo jet.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: abcnews - 🏆 5. / 83 Read more »