US markets sharply lower, Dow falls 400 pts

Wednesday, 14. August 2019 15:31

Stock markets in the United States opened deeply in the negative territory on Wednesday after the bond yield curve inverted ahead of the start of the trading session, signaling that a full-blown recession may flare-up. Prices of securities issued by the US Department of the Treasury jumped, sending yields sharply lower, while the spread between the rates on notes due in ten and two years briefly turned negative. Investors started buying assets perceived as less risky, while the price of crude slumped amid fears of a global economic slowdown.

The Dow Jones Industrial Average plunged 1.49% immediately after the markets opened, weighed down by tech stock selloff and Apple Inc.'s 2.16% plunge at 9.33 am ET. The Nasdaq 100 slipped 1.66% as the Advanced Micro Devices lost 4.05%. At the same time, the S&P 500 tumbled 1.43%, also battered by the tech companies sharp losses.

The euro traded 0.07% higher against the dollar at 9:35 am ET, changing hands for $1.1178.

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Breaking the News / MA