THE GUARDIAN: Dow Jones sinks more than 1,100 points as S&P closes down 4%, its largest fall since June 2020, and Nasdaq loses 4.7%
The wild ride on the US stock markets continued on Wednesday with the Dow Jones Industrial Average sinking more than 1,100 points as investors worried about a looming recession.
All of the major US markets fell sharply, with the S&P closing down 4%, its largest fall since June 2020, and the tech-heavy Nasdaq losing 4.7%. » | Dominic Rushe in New York | Thursday, May 19, 2022
Showing posts with label US stocks. Show all posts
Showing posts with label US stocks. Show all posts
Thursday, May 19, 2022
US Stocks Worst Day since 2020 amid Recession Worries
THE GUARDIAN: Recession fears are swirling through the markets again, as rising inflation and snarled supply chains hit economies, driving up the cost of living and hitting some company profits.
Last night, US stocks posted the biggest daily drop in almost two years, on concerns that economic growth will falter as central bankers look to raise interest rates to stem the surge in inflation.
Fed chair Jerome Powell’s determination to keep lifting borrowing costs until inflation falls meaningfully has rattled Wall Street, and is likely to push European markets lower today too.
The S&P500 fell more than 4% lower yesterday, Nasdaq slumped more than 5% and the Dow slid more than 3.5%. » | Graeme Wearden | Thursday, May 19, 2022
Last night, US stocks posted the biggest daily drop in almost two years, on concerns that economic growth will falter as central bankers look to raise interest rates to stem the surge in inflation.
Fed chair Jerome Powell’s determination to keep lifting borrowing costs until inflation falls meaningfully has rattled Wall Street, and is likely to push European markets lower today too.
The S&P500 fell more than 4% lower yesterday, Nasdaq slumped more than 5% and the Dow slid more than 3.5%. » | Graeme Wearden | Thursday, May 19, 2022
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