US stocks stumble on fears of looming recession; Dow falls over 700 points

Topics Wall Street | Dow Jones | S&P


Wall Street main indexes slumped more than 2.5 per cent on Wednesday, as a closely watched US bond market indicator pointed to a renewed risk of recession following poor economic data from Germany and China.

The S&P 500 index has now sunk 4.5 per cent since President Donald Trump announced a fresh round of tariffs on Chinese imports at the start of August and is on course for its worst three-week percentage slide this year. A brief recovery on Tuesday on signs that Washington would delay some of those moves quickly evaporated.....

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