Recession fears leave stocks drifting toward weekly loss

more Americans filing claims for jobless benefits and manufacturing activity in the mid-Atlantic region slumping to its lowest level in nearly three years.

U.S. Treasuries have also rallied, with two-year yields extending Thursday's drop as investors turn for safety and bet the U.S. hiking cycle is all but over. Yields fall when prices rise. Two-year yields fell 4 bps to 4.128%.fell 0.9% and was down 1.7% for the week so far, its worst performance since bank stability worries gripped markets in the middle of March.

The U.S. Leading Economic Index, a gauge of future economic activity, also dropped to its lowest level since November 2020 overnight and it is signalling a recession starting mid-2023.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Stock market today: Asian trading mixed ahead of earningsAsian shares were mixed Wednesday, as investors took a wait-and-see stance ahead of earnings reports and possible moves by central banks.
Source: wjxt4 - 🏆 246. / 63 Read more »

Asian Stock Market: Nikkei225 drops as Japan’s inflation accelerates, oil struggles to defend $77.00Asian Stock Market: Nikkei225 drops as Japan’s inflation accelerates, oil struggles to defend $77.00 – by Sagar_Dua24 Asia Nikkei Inflation Oil PBOC
Source: FXStreetNews - 🏆 14. / 72 Read more »

Recession fears set stocks on course for weekly dropAsian stocks slid toward their worst week in a month-and-a-half on Friday and oil nursed losses, while bonds enjoyed their best bid in weeks as U.S. data and earnings showed signs of weakness.
Source: Reuters - 🏆 2. / 97 Read more »