US stock markets fall sharply as investors worry about recession
- Date: 19-May-2022
- Source: The Guardian
- Sector:Financial Markets
- Country:Middle East
US stock markets fall sharply as investors worry about recession
The wild ride on the US stock markets continued on Wednesday with the Dow Jones Industrial Average sinking more than 1,100 points as investors worried about a looming recession.
All of the major US markets fell sharply, with the S&P closing down 4%, its largest fall since June 2020, and the tech-heavy Nasdaq losing 4.7%.
On Tuesday markets had rallied following positive news about consumer spending and signs that China was relaxing its strict Covid-19 lockdowns. Just a day later concerns about an economic slowdown triggered a wide-ranging sell off.
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