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U.S. stocks fell sharply again after Thursday’s selloff, putting the Dow Jones Industrial Average in correction territory, or more than 10% off its February high.
The S&P 500 meanwhile is on track for its worst monthly performance since 2022.
» Read more about: Dow Falls Sharply, Landing in Correction Territory »
US recession 2026 prediction explained: Worries about a possible US recession are growing, as new data and forecasts suggest the economy may be under more pressure than it appears. While Federal Reserve Chair Jerome Powell recently pushed back on concerns about stagflation, economists say risks are rising due to global tensions and signs of weakness in key areas,
» Read more about: Is a US recession coming? Odds jump as hidden cracks hit the economy »
Stocks closed the week with sharp losses Friday as Wall Street sought refuge from the financial blowback of the war in Iran.
The Dow Jones Industrial Average closed with a loss of nearly 800 points Friday, falling 1.7 percent on the day. The index closed at 45,166.64 points,
» Read more about: Dow falls into correction as Iran war shakes Wall Street »
The Nasdaq 100 entered a correction on Friday, down more than 10% from its peak.
The index has been beaten down this year by concerns about AI, a memory stock sell-off, and the Iran war.
The index appears to be moving closer to a bearish Death Cross,
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The US stock market has dropped to its lowest level since last September,
Bonds sold off on Friday in a sign that investors expect the Federal Reserve to be more hawkish on interest rates amid concerns that surging oil prices could drive up inflation.
The 10-year Treasury (^TNX) yield, which moves inversely to bond prices, jumped as high as 4.46%, its highest level since July,
By CHRISTOPHER RUGABER
WASHINGTON (AP) — The jump in gas prices stemming from the war in Iran has had another impact that may also affect many Americans’ finances: Higher interest rates.
Longer-term interest rates have risen quickly since the war began Feb. 28, pushing up the cost of mortgage loans,
» Read more about: Chances of a Federal Reserve rate cut fade as inflation worsens »
While Tesla (TSLA 2.70%) has seen some big share price swings over the last year, the stock has generally been on a hot streak. The company’s share price has risen roughly 37% over the last 12 months. However, some skeptics are arguing that the electric vehicle (EV) leader’s valuation is on pace for a dramatic pullback.
» Read more about: HSBC Thinks Tesla Stock Could Fall 65%. Here's Why. »
