U.S. stocks fell sharply Friday after a downbeat round of macroeconomic data in Europe and the United States raised global growth fears while a closely watched yield curve inverted for the first time since 2007, triggering recession worries.
U.S. wholesale inventories also rose 1.2% in January after a revised estimate of a 1.1% increase in December, the Commerce Department said. This comes just days after the president warned markets that tariffs on Chinese goods may remain “for a substantial period of time,” even after a trade deal is reached, to ensure Chinese compliance with its terms.
After weak economic data helped send German government bond yields negative Friday, “it tends to make it difficult for our Treasuries to stay higher, and it feed the narrative that we have slowing global growth,” he added.
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VIX surges, but the move in VIX futures is getting rather 'panicky'.
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