Stocks tumble as Dow, S&P 500 close out worst day since 2022

Stocks plunged on Monday as U.S. recession fears caused turmoil throughout the global markets.The Dow Jones Industrial Average tumbled 1,033.99 points, or 2.6%, while the Nasdaq Composite and S&P 500 fell 3.43% and 3%, respectively. The Dow and S&P 500 closed out their worst day since September 2022.

"The July jobs report is being viewed as a recession warning, and the markets are responding accordingly," said Bill Adams, chief economist at the Dallas-based Comerica Bank.With the jobless rate unexpectedly rising, the so-called Sahm rule is now in play. Named after former Federal Reserve economist Claudia Sahm, the rule has successfully predicted every recession since 1970.

United Kingdom United Kingdom Latest News, United Kingdom United Kingdom Headlines

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

Wall Street's smaller stocks roar a day after S&P 500's worst loss since 2022Wall Street’s split widened, as smaller stocks and other formerly unloved areas of the market rose while Big Tech stocks gave back more of their huge gains.
Source: latimes - 🏆 11. / 82 Read more »

Stock Market Today: S&P500 in biggest slump since 2022 as Alphabet, Tesla nosediveStock Market Today: S&P500 in biggest slump since 2022 as Alphabet, Tesla nosedive
Source: Investingcom - 🏆 450. / 53 Read more »