Wall Street tumbles on growth worries; focus turns to US Fed | Malay Mail

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NEW YORK, Sept 20 — Wall Street’s main indexes tumbled today, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus. Ten of the 11 major S&P sectors declined...

NEW YORK, Sept 20 — Wall Street’s main indexes tumbled today, as concerns about the pace of a global recovery hit economy-linked stocks at the start of a week in which the Federal Reserve will decide on potentially tapering its pandemic-era stimulus.

Heavyweight technology-related stocks Microsoft Corp, Google-owner Alphabet Inc, Amazon.com Inc , Apple Inc and Tesla Inc, which tend to perform better during economic uncertainty, were down between 0.6 per cent and 2.8 per cent. “Markets have been priced to perfection for a long time and in this September lull that seems to be quite seasonal throughout history, markets are dealing with the thing they hate most – uncertainty,” said David Bahnsen, chief investment officer, The Bahnsen Group in Newport Beach, California.

 

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Global markets on way to collapse very soon...

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