Dow plunges low to 2022 on fear of recession in global markets

BEIJING — Shares fell sharply worldwide on Friday on concerns that an already slowing global economy could slide into recession as central banks ramp up pressure with additional rate hikes. The Dow Jones Industrial Average fell 1.6%, closing at its lowest level since late 2020. The S&P500 fell 1.7%, close to the mid-June 2022 low, … Read more

Shares plunge after inflation remains higher than expected

NEW YORK — Stocks tumble and disappointment shakes markets around the world on Tuesday, after Wall Street realized inflation isn’t slowing down as much as hoped. the S&P 500 fell 2.3% in Tuesday’s early trading day, threatening to hit a four-day winning streak. Bond prices also fell sharply, pushing their yields higher after a report … Read more

Stocks open mixed on Wall Street after Labor Day holiday

NEW YORK — Shares open mixed on Wall Street as the market kicks off a week of short break with a muted start. the S&P500 was just in the green early Tuesday as the tech-heavy Nasdaq wavered between small gains and losses. The Dow Jones Industrial Average had also changed little. ADT rose 12% after … Read more

Futures up as Wall Street attempts a 3-day losing streak

NEW YORK — Wall Street pointed to small gains before the opening bell on Wednesday as markets tried to break a three-day sell-off, spurred by comments last week from Federal Reserve officials suggesting more rate hikes were likely. Futures for the benchmark S&P500 gained 0.4% and futures for the Dow Industrials were up 0.2% for … Read more

US retail sales were flat in July as inflation takes its toll

WASHINGTON — The pace of sales at US retailers remained unchanged over the past month, as persistently high inflation and rising interest rates forced many households to spend more cautiously. Retail purchases were flat in July after rising 0.8% in June, the Commerce Department reported Wednesday. US consumers, whose spending accounts for nearly 70% of … Read more

Applications for US unemployment claims rose again last week

WASHINGTON — More Americans filed for unemployment benefits last week as the unemployment rate continues to rise modestly, although the job market remains one of the strongest parts of the US economy. Jobless aid applications for the week ending July 30 rose by 6,000 to 260,000 from 254,000 last week, the Labor Department reported Thursday. … Read more

Fed plans to impose another major rate hike to fight inflation

WASHINGTON — Conflicting signals about the health of the US economy have put the Federal Reserve in a difficult position. With inflation at its highest point in four decades, the labor market strong and consumer spending still solid, the Fed is under pressure to aggressively raise interest rates. But other signs indicate that the economy … Read more

Ukraine and Russia agree to resume grain exports

ISTANBUL — Russian and Ukrainian officials on Friday stood ready to sign agreements designed to clear millions of tons of much-needed grain for export, ending a deadlock caused by the war in Ukraine that threatened food security around the world. The two countries would sign separate agreements with Turkey and the United Nations that would … Read more

Stocks end lower, approaching but not quite in a bear market

Shares closed another volatile day lower on Wall Street on Thursday, pushing the market closer to the first bear market since the start of the pandemic Through DAMIAN J. TROISE and ALEX VEIGA AP Business Writers May 19, 2022, 22:52 † 4 minutes reading Share on FacebookShare on TwitterEmail this article NEW YORK — Another … Read more