Dow Jones Sheds 129 Points as Tech Leaders, Nasdaq Surge
The Dow Jones Industrial Average gave up 129 points, but it could have been a lot worse with the Dow falling as much as 600 points at one point earlier today. There didn't seem to be anything new driving stocks lower, but investors continue to worry about a looming recession, which experts and analysts have been warning about for several months now.
During the day, yields on the 2-year and 10-year U.S. Treasury bills inverted, which has historically acted as a warning that the economy will fall or has already fallen into a recession.
"There's something afoot in investor sentiment that is difficult to ignore, given the inversion is occurring with 10-year yields below 3%," said Ian Lyngen of Bank of Montreal, according to CNBC. "I wouldn't say it's a direct indication that a recession is a near-term risk. Rather it's consistent with increased concern about recession."
Source Fool.com
