Markets were mostly lower on Wednesday.
The S&P 500 plunged 2.9 percent and the STOXX Europe 600 tumbled 1.7 percent.
Earlier in the day, the Nikkei 225 rose 1.0 percent.
The yield on the 10-year US Treasury note fell below that of the 2-year US Treasury note for the first time in more than a decade.
Oil fell as a US government report showed that domestic crude inventories rose for a second week in row. West Texas Intermediate crude declined 4.2 percent.
Concerns over the economy weighed on markets after data showed that Chinese industrial production growth slowed to 4.8 percent year-over-year in July, its lowest rate since 2002, and Germany's economy contracted 0.1 percent in the second quarter.
“The global economy would likely see a recession if the US escalates tariffs on China to 25% for an extended period,” Morgan Stanley equity analyst, Michael Wilson wrote in a note.
No comments:
Post a Comment