U.S. stocks slipped on Wednesday, as investors reeling from rising trade tension...
- U.S. stocks slipped on Wednesday, as investors reeling from rising trade tensions fled riskier assets for perceived safer havens, leading the bond market to price in a slide into recession.
The drop in yields also reflected a jump in expectations that the Federal Reserve would cut key borrowing costs three more times by year-end, with markets fully pricing in a reduction in September. [MMT/] The central banks in New Zealand, India and Thailand on Wednesday cut rates amid fears that the trade war could hit global growth.
At 11:08 a.m. ET, the Dow Jones Industrial Average was down 283.91 points, or 1.09%, at 25,745.61, easing from a near 600 points drop. A partial recovery in the yuan on Tuesday and a softer rhetoric from the White House on trade had helped the S&P 500 and the Nasdaq break a six-day losing streak. [CNY/]
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