Stocks tumble sharply on Wall Street amid worries about rates, economy

  • 📰 ABC7NY
  • ⏱ Reading Time:
  • 37 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 18%
  • Publisher: 51%

Sverige Nyheter Nyheter

Sverige Senaste nytt,Sverige Rubriker

Stocks tumbled worldwide Friday on more signs the global economy is weakening, just as central banks raise the pressure even more with additional interest rate hikes.

&P 500 fell 2.2% in early afternoon trading, adding a dismal cap on what's already been a rough week. It's almost all the way back to its lowest point of the year, reached in mid-June, as Wall Street remains mired in its bear market. The Dow Jones Industrial Average is nearly 20% below its record set early this year. If it closes at or below that level, it would join other major indexes that already passed the threshold.

"Financial markets are now fully absorbing the Fed's harsh message that there will be no retreat from the inflation fight," Douglas Porter, chief economist at BMO Capital Markets. The Dow Jones Industrial Average fell 602 points, or 2%, to 29,489 and the Nasdaq fell 2.1% as of 12:05 p.m. Eastern. Smaller company stocks did even worse. The Russell 2000 fell 3%. U.S. crude oil prices slipped 6.1% and weighed heavily on energy stocks.

The higher rates mean Goldman Sachs strategists say a majority of their clients now see a "hard landing" that pulls the economy sharply lower as inevitable. The question for them is just on the timing, magnitude and length of a potential recession.

 

Tack för din kommentar. Din kommentar kommer att publiceras efter att ha granskats.

Thank you Joe Biden

Here is a lead, research the relationship with Lauren Sanchez & Gavin Newsom. My gut says he is romantically involved. Watch the footage on YouTube & make your own decisions. This is substance for him not to be President or even Governor. Spread this far & wide, verify 1st.

Vi har sammanfattat den här nyheten så att du kan läsa den snabbt. Om du är intresserad av nyheterna kan du läsa hela texten här. Läs mer:

 /  🏆 592. in SE

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Dow tumbles 700 points into bear market territory, sets a new low for the yearStocks fell Friday morning as investors continued responding to the Fed's decision. Dark Brandon strikes again! Not sure how they Fidelity) can continue to say hold while my IRA continues to sink! Are we still building back better? Asking for my 401.
Källa: CNBC - 🏆 12. / 72 Läs mer »

European stocks open in the red as investors digest central bank movesEuropean stocks open lower Friday, as investors digest a raft of central bank decisions. Warren Buffett says ''monkeys' could do as good a job investing as Wall Street financial advisors
Källa: CNBC - 🏆 12. / 72 Läs mer »

Stock Market News Today: Dow Falls 500 Points as Indexes Drop FridayThe Dow fell to its lowest level of the year, extending a selloff amid new signs of slowing global growth Build back better lol redsteeze Trump leaves office with U.S. major benchmarks near all-time highs. But how did his performance stack up with his predecessors? Not too bad, according to major indexes.
Källa: WSJ - 🏆 98. / 63 Läs mer »

Stocks Making the Biggest Moves Midday: FedEx, Boeing, Ally, Domino's and MoreThese are the stocks posting the largest moves in midday trading.
Källa: NBCDFW - 🏆 288. / 63 Läs mer »