According to the operators “supply chain issues continued to fuel inflation and growth concerns”.
“Traders are looking for a catalyst to turn the market around as it approaches its short-term low,” said Rick Meckler, president of hedge fund LibertyView Capital Management LLC, adding: “There’s probably still enough fear among investors to see some more downdrafts.
Goldman Sachs now estimates a 35% chance of a US recession in the next two yearswhile Morgan Stanley estimates a 25% chance in the next 12 months.
On Wall Street, shares were trading mixed. The Dow Jones Industrial Average fell 0.7%, the S&P 500 Index lost 0.2% and the Nasdaq Composite Index added 0.5%.
Source: Ambito
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