(Mary Dowling) Investors believe the economy is likely coming in for a hard landing. Wall Street thinks the Feds might be waiting too long to lower interest rates.
The Dow closed 500 points lower on recession fears. According to CNBC, Initial jobless claims rose the most since August 2023. The ISM manufacturing index, a barometer of factory activity in the U.S., came in at 46.8%, worse than expected and a signal of economic contraction. After these releases, the 10-year Treasury yield dropped below 4% for the first time since February.
The Dow went down a day after central bank policymakers chose to keep rates at the highest levels in two decades, when Fed Chair Jerome Powell gave investors some hope by signaling a September rate cut is on the table.
The conservative voice and Christian content are being silenced more and more. CRN offers a lifeline to conservative people of faith who are disgusted with social media and the leftmedia for failing to report, even blocking, important news stories that don’t comport with the far left’s narrative. We urge you to sign up to receive our FREE need to read articles. NO ADS! NO VIDEOS! NO POPUPS! JUST STRAIGHT NEWS.