US stocks in sell off mode as economic concerns mount

  • 📰 Investingcom
  • ⏱ Reading Time:
  • 38 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 53%

Malaysia News News

Malaysia Malaysia Latest News,Malaysia Malaysia Headlines

US stocks in sell off mode as economic concerns mount

Investing.com-- U.S. stocks were in selloff mode Monday as growing concerns over an economic slowdown put squeeze on high-flying technology stocks.These hefty losses followed on last week's selloff on fears of an economic slowdown.

"We now expect faster cuts because the funds rate looks more clearly inappropriately high; the Fed looks behind, having worried too much about inflation for too long and held steady in July; and the rationale for cutting now includes the more urgent priority of supporting the economy," Goldman Sachs said in a recent note.

When asked about whether a weakening labor market and manufacturing sector might prompt action from the Fed, Goolsbee avoided committing to a specific course but mentioned it doesn’t make sense to maintain a"restrictive" policy stance if the economy is softening.Markets now price in a 78% chance the Federal Reserve will not only cut rates in September, but ease by a full 50 basis points.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 450. in MY

Malaysia Malaysia Latest News, Malaysia Malaysia Headlines