Olde Hornet
Well-Known Member
S&P 500 and Nasdaq erase losses after bond market scare
The Dow and the broader US stock market had another volatile day as Wall Street investors fear the US-China trade war will inflict broad damage on the global economy.
www.cnn.com
The Dow and the broader US stock market are tumbling once again Wednesday as Wall Street investors fear the US-China trade war will inflict broad damage on the global economy.
After a one-day respite, panic has reignited over the trade war. Investors are pulling money out of stocksand buying up US bonds and gold as safe havens.
Economists at Rabobank are projecting a shallow global recession because the trade war is hurting financial markets, consumer confidence and the global economy. Rabobank reduced its worldwide growth projections below 3% on Wednesday.
The 10-year US government bond yield tumbled near a three-year low of 1.6181%. Bonds and yields move in opposite directions.