Stocks around the world remained stuck in the spin cycle Thursday, as worries about a possible recession collided with hopes that the strongest part of the U.S. economy — shoppers spending at stores and online — can keep going.
The U.S. bond market, which has been among the loudest and earliest to cry out warnings about the economy, also continued to show concern as yields fell. Consumer spending makes up the bulk of the U.S. economy, and shoppers have been carrying the economy recently amid worries that businesses will pull back on their spending due to all the uncertainty created by the trade war. Other economies are slowing as the trade war is doing damage to manufacturers around the world.
"The countdown to a recession has just started," said Hussein Sayed, Chief Market Strategist at FXTM.
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