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U.S. Stocks Fall as Fears of Economic Slowdown Return

Published 09/29/2022, 09:46 AM
Updated 09/29/2022, 10:48 AM
© Reuters.

© Reuters.

By Liz Moyer

Investing.com -- U.S. stocks are falling amid recurring fears about aggressive actions by central banks to curb inflation.

At 10:43 ET (14:43 GMT), the Dow Jones Industrial Average was down 530 points, or 1.8%, while the S&P 500 was down 2.3% and the NASDAQ Composite was down 3.2%.

After rebounding on Wednesday, stocks were again pressured by investors who fear a global slowdown. Tech stocks slid the most as yields on Treasurys ticked higher again. 

The economy recovered from the pandemic stronger than initially understood, according to Commerce Department revisions of gross domestic product readings.

GDP rose 5.9% last year, the department said. That was revised up from the earlier reading of 5.7%.

Meanwhile, the labor market continues to show its resilience. The number of Americans filing new jobless claims last week fell to 193,000, beating expectations even as the Federal Reserve raises interest rates to slow demand.

Airline stocks were under pressure as Hurricane Ian in Florida forced the cancellation of thousands of flights to and from the state. Shares of American Airlines Group (NASDAQ:AAL) fell 3.6%, while shares of United Airlines Holdings Inc (NASDAQ:UAL) fell 3% and shares of Southwest Airlines Company (NYSE:LUV) fell 1.9%.

Oil was falling. Crude Oil WTI Futures was down 0.3%, to $81.87 a barrel, while Brent Oil Futures crude was down 0.3% to $87.82 a barrel. Gold Futures was down 0.7% to $1658.

Latest comments

waa,waa,waa, excuse da jour. enough of this manipulation.
the international Multinational Corporations are making $$
or market embarks on superrally today. whatever the case, let it be
probably flat close today. then it would stay at current level till end of year. that is what they call soft landing.
Wrong.
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In 1 day recession fear goes away and then on the next day its back agsin. Whether their expert on Financial Market are not that much competent? Day and day out,they changing their views.
very true… mighty few are taking everyone for ride… Short selling is rampant .. By end of the day ( thursday ) you may see market erasing all its losses..
In 1 day recession fear goes away and then on the next day its back agsin. Whether their expert on Financial Market are not that much competent? Day and day out,they changing their views.
In 1 day recession fear goes away and then on the next day its back agsin. Whether their expert on Financial Market are not that much competent? Day and day out,they changing their views.
Well we're really just returning to levels before the pandemic... It's not like the economy magically doubled in size while everyone sat at home... Govenment debts did.
In 1 day recession fear goes away and then on the next day its back again.
all these are game of big players ..scare the retailers..actually I don't see a difference between stock market and gambling..
it's game
Yes, big players manipulate the market like they want. As you say, this is a Casino.
Good time to buy.
Good time to buy.
Good time to buy.
Getting more involved.
my ******is ready
Change Fed Chairman then 😅
Exactly hes a pos
gold hits again 1616
it's almost 52 weeks low.... goodluck everyone....
be greedy when others are fearful
I'm loading the boat
Big industrial traders controlling the markets. Its criminal what they see doing to ordinary investors.
There's obviously some serious manipulation goimg on
GET OUT OF STOCKS NOW OR GO BROKE
Finally Biden wotking hard to bring down the stock market before the PandemicNext is the economy. He will succeed
"Fears of economic slowdown return", so the market selectively forgets and then remember of the economic slowdown the next day? what a bipolar market, lol.
mr market is indeed bipolar
this is getting ridiculous
yet yeaterday there wa sno fear huh? *****!ng cr00ks
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