NEW YORK March 23 ̵
Capping five tumultuous days of trade, S & P 500 Dow and Nasdaq were all down in the week.
A weaker than expected reading of US factory activity in March along with similar downtime reports from Europe and Japan helped send US Treasury yields into an inversion with the spread between yields. f three-month state tax b accidents exceed the 10-year banknotes for the first time since 2007.
An indication of short-term risk and seen by many as a potential deterioration of the recession, the reverse Treasury yield curve appeared to confirm the investor's fear of a global slowdown in economic growth.
"What's going on with the yield curve is, moreover, exaggerated," said Bernard Baumohl, chief executive and finance director of the Economic Outlook Group at Princeton. "I wouldn't jump to the conclusion that a recession is imminent."
But Baumohl warned against complacency.
"There are real clouds that form on the horizon. The question is, how dark are those clouds that will be and will they trigger a recessionary storm."
Earlier this week, the US Federal Reserve ended its two-day monetary policy meeting with a statement that does not predict further interest rate hikes in 2019 on signs of economic softness, a skewed shift that surprised the markets.
Interest-sensitive financial firms fell 2.8%. and fell their worst week since late December.
Dowen Jones Industrial Average dropped 460.19 points or 1.77 percent to 25.502.32, S & P 500 lost 54.17 points or 1.90 percent to 2,800.71 and Nasdaq Composite fell 196.29 points or 2 , 5 percent to 7,642.67.
Of the 11 major sectors in the S & P 500, anything but utilities ended the session in the red.
The CBOE volatility index, a measure of investor fear, jumped most in two months.
Nike Inc shares killed 6.6 percent after sportswear company's North American
The major retailer Tiffany Inc said it expected earnings growth to resume in the second half and confirmed its 2019 goals, thus raising stocks by 3.1 per cent.
Electric automaker Tesla Inc slid 3.5 percent. Following a research note from Cowen that saw the soft US demand for Model 3 until the release of the company's cheaper model in the second quarter.
Boeing Co continued to decline and lost 2.8%. As the Indonesian airline Garuda canceled a $ 6 billion order for the company's 737 MAX aircraft and quoted customers' fears in the wake of the Ethiopian Airlines crash.
Netflix Inc fell 4.5%. on the eve of Apple Inc's launch of a rival streaming service on Monday.
Falling problems exceed the NYSE promotion with a ratio of 3.69 to 1; on Nasdaq, a 4.90 to 1 ratio favored decliners.
S & P 500 posted 54 new 52 week heights and 5 new downs; Nasdaq Composite registered 25 new highs and 87 new lows.
The volume of US stock exchanges was 8.66 billion shares, compared to 7.71 billion averages over the last 20 trading days. – Reuters