TOKYO/SYDNEY - Asian stocks stumbled and oil prices extended a punishing sell-off on Thursday as investors feared an historic drop in long-term U.S. bond yields could portend a recession globally.
Yields on 10-year paper US10YT=RR dropped to 1.545%, taking them under two-year paper. Such an inversion was last seen in 2007 and correctly foretold the great recession that followed a year later. The futures market was clearly expecting drastic action as it priced in a greater chance the Fed would have to cut rates by half a point at its September meeting. FEDWATCH
That hope helped E-Mini futures for the S&P 500 ESc1 nudge 0.5% higher in late Asian trade, while the EUROSTOXX 50 STXEc1 was last traded up 0.3%, suggesting a modestly higher open for European stocks.
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:
China is ready to occupy Australia and New Zealand! The process of protests in Hong Kong was fabricated by China itself!
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.
Global stocks spooked, oil sinks as bond markets scream recessionAsian stocks slid and oil prices extended a punishing sell-off on Thursday as in... Money isn't everything. TrumpRecession TrumpRecession TrumpSlump TrumpCrash More Tariffs Spooks, sinks & screams... objectivity
Source: Reuters - 🏆 2. / 97 Read more »
Cramer breaks down the biggest winning stocks from Trump's tariff delay'This a home-run day for Apple, huge wins,' Jim Cramer says. Here is your chance to get in on the stock market like I did. +FREE Stock & trades. **Top FREE Finance App in the Google Play/Apple Store** Join Robinhood and we'll both get a stock like Apple, Ford, or Sprint for free. Make sure you use my link.
Source: CNBC - 🏆 12. / 72 Read more »
Stocks are up 27% during Trump's presidencyThe S&P 500, the broad measure of stocks of the 500 largest US companies, is up 27% since President Donald Trump took office in January 2017. But they were up 39% during the same 644-day period at the start of President Barack Obama's tenure. Why has neither case made me feel richer? Is it because I, like many people, invest in gas, food, rent, and an occasional book? Crooks, knew what Trump's administration was going to do 4,the Ritchie's 1% n America & Russia! LOL. After market had a huge drop they jump on this. Come on Fredo report the news fairly every once in a while.
Source: CNN - 🏆 4. / 95 Read more »
Fashion Stocks Climb as U.S. Delays Some Tariffs Until Mid-DecemberFrom cashmere sweaters to ties, the tariff delay on some Chinese fashion imports will give retailers breathing space to stock up ahead of the holiday spending period.
Source: wwd - 🏆 24. / 68 Read more »