False alarm no longer? Recession fears continue to spook US stock market
Recent data is not consistent with the US economy falling off a cliff, but there is ample evidence of teetering on the edge of one
Add BT as a preferred source
FOR the second time in a little over two months, the US stock market is experiencing fears of a recession. This time, it might not be a false alarm, with dire economic data in China and some early signs of the US following suit.
In early August, the S&P 500 plunged 10 per cent as traders feared that the US Federal Reserve would act too late to save the US economy from a major recession.
September began with almost exactly the same pattern. The US central bank is almost certain to cut rates by at least a quarter of a percentage point at the end of its two-day meeting on Wednesday (Sep 18), but the stock market is behaving as though that’s too little, too late.
TRENDING NOW
Think twice about rebuilding that old landed property into a super-big house to max out GFA
SpaceX’s US$1.75 trillion IPO: How retail investors, including those in Singapore, can buy shares
Battle for Asia’s ultra-rich: ‘Singapore can’t afford to keep losing clients to Dubai, Hong Kong’
Tech rout sweeps Asia as AI rally jitters spark sell-off
