Dow Jones dip sparks recession fears on Wall Street


(WTNH) — All eyes will be on Wall Street when the market opens for business on Thursday after the Dow Jones took a big tumble the day before.

What’s considered the worst day on Wall Street so far this year is setting off some serious concerns. That dramatic drop we’re talking about was 800 points, which is obviously not what you want to hear if you’re an investor with money wrapped up in the stock market.

There are several different factors in all of this. Part of the issue coming from outside the United States. China and Germany both issued disappointing economic numbers this week. While banks in New Zealand, India and Thailand slashed rates greater than expected due to trade fears.

It’s no secret that our economy has seen record growth and strong job numbers, but another big issue wrapped up in all of this is the ongoing trade war with China. Some experts fear if that isn’t resolved soon, we could see some serious issues.

“If the president can’t find a way to find some kind of face-saving arrangement with China pretty soon, we will be in recession,” Mark Zandi, Chief Economist, Moody’s Analytics.

President trump decided to delay tariffs against China until December, tweeting on Wednesday that China wants to make a deal. In other parts of the world, the markets are already open.

European stocks are trading slightly up right now. We’ll see what happens here in the U.S. when the New York stock exchange opens at 9:30 a.m.


Free download: Access Connecticut breaking news, weather, stream newscasts live and more on-the-go with News 8 alerts directly to your phone.

Copyright 2020 Nexstar Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Don't Miss

More Don't Miss