U.S. stocks retreated on Monday morning as concerns about global growth outweighed the market's attempt to regroup as data showing weakness on the global economic front caused major losses last Friday.
How do reference indexes trade?
Dow Jones Industrial Average
DJIA, + 0.10%
fell 103 points, or 0.4% to 25,398, the S & P 500
SPX, + 0.02%
decreased by 44 points, or 0.6%, to 7,597.
On Friday, all three benchmarks were the biggest one-day drop. S & P 500 may fall by 40% as a yield curve, says analyst of one of the best 2018 Hedge funds returns  Read:
Wall Street remains embroiled in the fears of a global recession triggered by a series of weak readings in the eurozone on Friday that show further slowdown in activity. Aggravating these fears, US data later that day showed that growth in the manufacturing sector slowed down to a 21-month low in March.
Asian stocks tracked losses on Wall Street on Friday, as concerns about global growth were again the focus of attention Monday. The Nikkei-225 index
declined by 3%, while European stocks also fell at the start of trading. Read: The sustainability of negative pace in Europe can revive the dangerous "search for profitability"
Market participants have also mastered the investigation of Special Adviser Robert Mueller, published on Sunday, which apparently does not finds evidence that the Trump Campaign "is negotiating or coordinating" with Russia to influence the presidential election in 2016. Mueller also investigates whether President Donald Trump has impeded justice, but has not come to a final conclusion. Shuffled investors put money into bonds, forcing the spread between the 3-month government debt and the 10-year note for the first time since 2007. The inversion of the yield curve – when the rate of longer-term debt drops below its short counterparts – many are perceived as an accurate indicator of recession.
Return on the 10-year note
rose 1 basis point to 2.454% on Monday. Read: Inverted yield curve – here are 5 things investors need to know
The US economic calendar is empty for Monday, but new data from Europe showed a survey of German business moods from The Ifo Institute rose to 99.6 in March from a 98.3 forecast, according to Dow Jones Newswires. The index dropped to 98.5 in February.
Speaking in Hong Kong on Monday, Chicago Federal Reserve Chairman Charles Evans said it was wise to remain patient and see what additional data he would bring before deciding on further interest rates. If growth is close to its potential and inflation is gaining momentum, then some further interest rate hikes may be appropriate over time to ensure that the economy is set in the long run for sustainable growth and that inflation is working symmetrically around our goal of 2%, "he said in prepared notes, according to Reuters.
In other places, US Treasury Secretary Stephen Munchin and leading US trade negotiator Robert Lighthezher will return to Beijing for trade talks.
What do the strategists say? "Things can be reassured if we feel some good vibrations from Beijing's trade talks later this week, but that may be a few days to start," said Jeffrey Hali, senior market analyst at OANDA.
"Bond yields are worrying here – 10 years in the US have fallen to 2.44% while bonds are again negative. Throughout the year, global bond yields fluctuate. On Friday, the market drew attention because the return of 3m-10yr was reversed-it was a big glowing warning light, "said Neal Wilson, chief market analyst for Markets.com, in a customer note.
Which stocks were focused? 19659003] Stocks of Apple Inc. .
are focused on their "special event," which is expected to include revealing the much-anticipated streaming video service along with iPad and Mac updates. IPhone maker shares fell by 0.8%.
The Wall Street Journal reported that Apple would charge the service with HBO, Showtime and Starz subscriptions for $ 9.99 a month, but not Netflix Inc. .
NFLX, + 0.61%
The netflix stock was up 0.6%.
What are other markets doing?
European stock markets tilted lower, but reduced losses after Ifo's data, with the Stoxx 600 Europe index
declined 0.3% after sliding 1.2% on Friday, the biggest one-day drop since February 7. Asian stock markets closed lower, such as Japan's Nikkei Index, Hang Seng and Shanghai Composite Index
In commodity markets, crude oil prices
are permanent, while gold prices are
GCJ9, + 0.66%
earned the dollar in the US
remains under pressure.
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