The Dow Jones Industrial Average sank 943 points Wednesday as surging coronavirus cases forced more shutdown measures in Europe and raised fears of more restrictions in the U.S. The S&P 500 slid 3.5%, its third straight loss and its biggest drop since June. The benchmark index is already down 5.6%...
Stocks Slide After Bond Market Warns Again of Recession
NEW YORK — Stocks fell sharply Wednesday after the bond market threw up another warning flag on the economy. The yield on the 10-year Treasury briefly dropped below the two-year Treasury's yield Wednesday morning for the first time since 2007. The so-called inversion has correctly predicted many past recessions and is the...
Fed Chairman Signals That Rate Cut Could Happen Soon
WASHINGTON — Chairman Jerome Powell signaled Wednesday that the Federal Reserve is likely to cut interest rates late this month for the first time in a decade in light of a weakening global economy and rising trade tensions. Delivering the central bank's semiannual report to Congress, Powell said that since...