Music superstar Cardi B issued a tweet Sunday on the topic of a recession, but Treasury Secretary Janet Yellen responded on Thursday by noting that she does not expect there to be a recession.
Tesla (TSLA.O) CEO Elon Musk has a "super bad feeling" about the economy and needs to cut about 10% of salaried staff at the electric carmaker, he said in emails seen by Reuters.
After a promising start to morning trading, the major stock indexes turned sharply negative Friday with the S&P 500 tumbling into bear market territory and the Dow Jones Industrial Average setting up for the longest streak of weekly losses since the Great Depression.
Global stock markets are expected to continue hemorrhaging money as more heavy selling continues this summer while central banks around the world hike interest rates to try and combat spiraling inflation.
Stocks fell sharply in U.S. markets on Thursday morning, led by the technology and consumer discretionary sectors.
The Dow Jones Industrial Average fell by 1,100...
U.S. stocks edged lower on Thursday on worries about the raging conflict in Ukraine and the outlook for U.S. interest rate hikes, putting the main indexes on course for their worst quarter since the pandemic crash in 2020.
The S&P 500 just ended its worst month since March 2020 as investors fret about coming interest rate hikes and uncertainty over the situation in Ukraine.
