and rising interest rates sent the S&P 500 more than 20 per cent below its record set early this year.
"The best thing people can do is to not panic and don't sell at the bottom," said Randy Frederick, managing director of trading and derivatives at the Schwab Center for Financial Research, "and we're probably not at the bottom." Wall Street's sobering realisation that inflation is accelerating, not peaking, is also sending US bond yields to their highest levels in more than a decade. The two-year Treasury yield shot to 3.36 per cent from 3.06 per cent late Friday in its second straight major move. It earlier touched its highest level since 2007, according to Tradeweb.
The gap between the two-year and 10-year yields has also narrowed sharply, a signal of weakening optimism about the economy. When the two-year yield tops the 10-year, an unusual occurrence, some investors see it as a sign of a looming recession. Bears hibernate, so bears represent a market that's retreating, said Sam Stovall, chief investment strategist at CFRA. In contrast, Wall Street's nickname for a surging stock market is a bull market, because bulls charge, Stovall said.
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:
Well done Democrats !!!
Wave 2 is on the way for America. Australia won't be far behind. Stock up on supplies.
It's the recession we had to have, not the one that we orchestrated with lockdowns and sanctions that hurt us more.
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bloodbath: $110b wiped off ASX after Wall Street sinks into bear marketThe Australian sharemarket has plunged 5 per cent at the open after Wall Street’s benchmark S&P 500 officially entered a bear market. 'Be fearful when others are greedy and greedy when others are fearful.” Warren Buffet Many bargins to be had in the market today. Thank God interest rates will keep going up
Source: theage - 🏆 8. / 77 Read more »
Bloodbath: $110b wiped off ASX after Wall Street sinks into bear marketThe Australian sharemarket has plunged more than 5 per cent in early trade putting it on track for its worst day since March 2020, when COVID rattled markets. 'Be fearful when others are greedy and greedy when others are fearful.” Warren Buffet. Plenty of bargains in the market today. Apparently the Herald's disgrace is now featuring on US television! BevanShieldsMustResign Auspol
Source: smh - 🏆 6. / 80 Read more »
S&P plunges, sending Wall St into bear market territoryThe index was down 2.7 per cent in first trading and has tumbled more than 20 per cent from its record in January, sparking fears that the US is on the brink of recession.
Source: FinancialReview - 🏆 2. / 90 Read more »
Bloodbath: $110b wiped off ASX after Wall Street sinks into bear marketThe Australian sharemarket has plunged 5 per cent at the open after Wall Street’s benchmark S&P 500 officially entered a bear market. 'Be fearful when others are greedy and greedy when others are fearful.” Warren Buffet Many bargins to be had in the market today. Thank God interest rates will keep going up
Source: theage - 🏆 8. / 77 Read more »
Bloodbath: $110b wiped off ASX after Wall Street sinks into bear marketThe Australian sharemarket has plunged more than 5 per cent in early trade putting it on track for its worst day since March 2020, when COVID rattled markets. 'Be fearful when others are greedy and greedy when others are fearful.” Warren Buffet. Plenty of bargains in the market today. Apparently the Herald's disgrace is now featuring on US television! BevanShieldsMustResign Auspol
Source: smh - 🏆 6. / 80 Read more »
S&P plunges, sending Wall St into bear market territoryThe index was down 2.7 per cent in first trading and has tumbled more than 20 per cent from its record in January, sparking fears that the US is on the brink of recession.
Source: FinancialReview - 🏆 2. / 90 Read more »