Dow Jones posts biggest daily loss this year

2019-08-14 21:38:42 GMT (Economies.com)
Dow Jones posts biggest daily loss this year

US stocks fell today with sharp losses in other global markets global recession worries after the inversion of the US and the UK bond yield curve.

 

Donald Trump said that the US Fed is late to cut interest rates to face the slowing growth, and blamed Wall Street losses on the central bank.

 

Whilst, denying that his tariffs decisions are the main cause for the economic growth slowdown and global markets' volatility, defending it by saying that it generates billions of dollars to the federal budget.

 

Concerns mounted over the US economy recession after the two-year and 10-year bond yield curve inversion, but the former Federal Reserve Chair, Janet Yellen, sees that it might be a wrong signal.

 

While Alan Greenspan, former Chair of the Federal Reserve, sees that the US Treasury yields will fall below zero levels due to the trade war impact.

 

In oil market, WTI fell by 3.3%, to close at $55.23 a barrel, with a high of $56.8 and a low of $53.9.

 

Brent fell by 3% to close at $59.48 a barrel, with a high of $61.08 and a low of $58.2.

 

Dow Jones shed 3% or 800 points to close at 25,479 points, with a high of 26035 and a low of 25471.

 

Nasdaq fell 3% or 242 points to 7,774, with a high of 7,900 and a low of 7,763 points.

 

S&P 500 shed 2.9% or 85 points to 2,840, with a high of 2,894 and a low of 2,839.

 
 
 
  Symbol Last Change Chg.%
1.1091
-0.0102
0.9113%
1.2147
0.0087
0.7243%
17.104
0.128
0.753%
54.800
0.550
1.014%
58.65
0.42
0.72%
1512.265
14.840
0.991%
 
 
US
 
Europe
 
Asia