Stocks tumble after bond market flashes recession warning

[Yo_Mama_Been_Loggin]

Stocks fell sharply Wednesday, giving back Tuesday’s solid gains, after the U.S. bond market flashed a troubling signal about the U.S. economy.

The Dow was down more than 600 points, while the S&P 500 slumped 2.4% and the Nasdaq sank 2.8%.

The yield on the benchmark 10-year Treasury note Wednesday broke below the 2-year rate, an odd bond market phenomenon that has been a reliable indicator for economic recessions. Investors, worried about the state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond to a new record low on Wednesday.

Bank stocks led the declines as it gets tougher for the group to make a profit lending money in such an environment. Bank of America and Citigroup both fell more than 3%, while J.P. Morgan also dropped 3%. The SPDR S&P Regional Banking ETF is down 2.65%.

https://www.msn.com/en-us/money/markets/stocks-tumble-after-bond-market-flashes-recession-warning/ar-AAFzdHm?li=BBnb7Kz

Tired of winning yet?

[SWBTATTReg]

1. Oh oh...idiot will do an executive order preventing the markets from ever going down! NT

[empedocles]

2. Think trump be looking for more scams to keep it pumped up?

[Sneederbunk]

3. Must avoid Trump Slump.

[maxsolomon]

4. Recession coming, 11/4/2020

Daddy makes the mess, Mommy cleans it up.

The kids cheer Daddy when he takes credit, cry when Mommy makes then eat vegetables.

[lpbk2713]

5. Please wake me when America is great again.

[Johnny2X2X]

6. More than just the bond yield indicator

There was a run of bad news today after several months of mostly bad economic news. This is being driven by the looming and now probably unavoidable global recession Trump created.