- The Dow Jones Industrial Average DJIA, -1.77% fell around 460 points, or 1.8%, to end near 25,503.
- The S&P 500 SPX, -1.90% fell 1.9% to close near 2,801.
- The Nasdaq Composite COMP, -2.50% dropped 2.5% to end near 7,643.
Following a weak start on the session, taking its cues from negative performance in European markets as the purchasing-managers-index readings across Europe came in weaker than expected, US stocks extended their declines into the close.
Concerns over global growth sent investors into bonds which took the 10-year Treasury note below the yield on the 3-month T-bill, (a bearish diversion), indicating to markets that a U.S. recession could be on the cards as soon as 2020, stoking fears of a global slowdown.
The DJIA has been unable to sustain territory above the 26000 level having scored a high of 26109 on Tuesday. A continuation to the downside will open a move to the 23.6% retracement of the late Dec swing lows to late Feb swing highs at the low end of the twenty-five hundreds which guards a break all the way down to the 38.2% fibo of the same range around 24400.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.