U.S. stocks close at lowest levels in more than a month as recession fears mount

U.S. stocks booked a fourth straight session of losses on Monday, extending back-to-back weekly losses to finish at their lowest levels since early November, as recession fears dominated Wall Street.

What drove the market Investors have become increasingly concerned about a recession many feel is all but inevitable given the determinedly hawkish stance of major monetary authorities, such as the Federal Reserve and European Central Bank, which continue to battle high inflation.

“With economic data undershooting expectations, it’s not a stretch to think investors may shift their focus from inflation and the Fed to the growing impact that the Fed’s actions are likely to have on the economy in 2023,” Innes said. It may pay to take a long view on China as it relaxes its COVID curbs, which have been seen as a brake on consumption in the world’s second-largest economy, George Young, portfolio manager with Villere & Co., said in a phone interview.

December is usually red people selling for tax reason

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Stocks edge lower in uncertain trading on Wall StreetWall Street futures pointed higher early Monday as markets try rebound from back-to-back weekly losses, driven by fears that interest rate hikes by the Federal Reserve and other central banks might tip the U.S. and global economies into recession.
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