Economic trends tend to predict election outcomes, and recessions can be kryptonite for the party in powerU.S. President Donald Trump speaks during an event at the Shell Pennsylvania Petrochemicals Complex in Monaca, Pennsylvania, U.S., on Tuesday, Aug. 13, 2019. Picture: JUSTIN MERRIMAN / BLOOMBERG
However, this week, fears of a broader downturn arose. The S&P 500 sank almost 3% on Wednesday and the Dow Jones Industrial Average plunged 800 points in its worst rout of the year, sparked when the 10-year US treasury rate slid below the two-year for the first time since 2007, a harbinger of a possible downturn.
At least one Democrat took notice of the signs. Senator Elizabeth Warren, who posted a blog on Medium in July about the economic slowdown, tweeted on Wednesday that “the warning signs for another recession are flashing. We need to pay attention and act now, while we still have time to avert a downturn”.
Before the markets closed, Trump tried to deflect any blame for the economic news by turning it on the Fede’s interest-rate increases, venting about the ‘CRAZY INVERTED YIELD CURVE!’ in a tweet Before the markets closed, Trump tried to deflect any blame for the economic news by turning it on the Fede’s interest-rate increases, venting about the “CRAZY INVERTED YIELD CURVE!” in a tweet on Wednesday, blaming it on the central bank’s interest rate increases.
Economists worry this weakness will take a toll on what’s been the American economy’s bright spot — the job market.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
As Trump panics, China calmly puts out firesPresident Xi Jinping might have the last laugh as the spooked US president flees into his arms
Source: BDliveSA - 🏆 12. / 63 Read more »
Oil remains below $59 a barrel as worries about a recession growBut the price of Brent is still up 10% in 2019 thanks to supply cuts led by oil cartel OPEC and allies such as Russia
Source: BDliveSA - 🏆 12. / 63 Read more »
World shares fall as investors hope central banks will respond to recession fearsUS 10-year yields drop under two years for the first time in 12 years, with markets worried that the yield inversion curve heralds recession
Source: BDliveSA - 🏆 12. / 63 Read more »
JSE set for another day of pressure amid recession fearsUS Dow lost 3% on Wednesday amid mounting global economic gloom
Source: BDliveSA - 🏆 12. / 63 Read more »
Oil slips on concern about recession and inventoriesGlobal economic worries and high US stock levels weigh on prices
Source: BDliveSA - 🏆 12. / 63 Read more »
Gold basks as recession fears send investors in search of safetyPrices of the metal rise as global stocks slump and US data signals trouble
Source: BDliveSA - 🏆 12. / 63 Read more »