Wall Street slumps to lowest level since 2020 as fear returns
Worries about rising Sbond yields and a possible slowdown brought back pressure on the markets
The S&P 500 was down 2.1% in evening time exchanging and was once again at its least level since the finish of 2020.
The Dow Jones Industrial Average was down 504 points, or 1.7%, at 29,178 as of 11:05 a.m. Eastern Time, and the Nasdaq Composite was down 3%.
A more grounded than-anticipated report on the US occupations market reinforced expects the Fed to raise rates and save them at more significant levels for quite a while, possibly until 2023.
A more grounded than-anticipated report on the US occupations market reinforced expects the Fed to raise rates and save them at more significant levels for quite a while, possibly until 2023.
High interest rates not only slow down the economy and invite the possibility of recession
In the US, investors are concerned that one of the main levers that determine stock prices may be at risk as corporate profits falter under high interest rates, a slowing economy and high inflation.
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