By Medha Singh
(Reuters) – Wall Street's major indexes slid more than 2% on Wednesday, with a closely watched US bond market indicator renewed recession risk due to poor economic data from Germany and China.
Two-year cash receipts have risen above the 10-year yield for the first time since 2007, an indicator that is seen as a classic recession signal, [US/]
The interest-sensitive banking index is it fell by 3.7% and the broader financial sector fell by 3.0%.
Falling exports have driven the German economy to the opposite in the second quarter, while industrial production growth in China has cooled by more than 1
"Any economic number that goes global will be seen through the lens of how much trade tensions will negatively impact growth and subsequently markets," said Masood Gahashi, senior analyst at Nasdaq IR Intelligence in New York.  The downward sentiment followed a rally in Wall Street's main indices on Tuesday, thanks to a decision by the Trump administration to delay tariffs on some Chinese imports, at current levels, the S&P 500 is up 2.7% from the previous session's high.  He, also known as ka the Wall Street Fear Gauge rose 4.08 points to 21.60.
Investors do not know when or how the trade war will be resolved and until the situation persists, markets will not be able to overcome the risk and we need to continue to see instability, "Ghaussy said.
At 11:07 ET, the decline was 557.26 points, or 2.12%, at 25 722.65, the S&P 500 decreased by 62.63 points, or 2.14%, at 2863.69. It decreased by 190.71 points or 2.38%, at 7 825.65.
Ten of the 11 major R&D sectors were in the red, with a decrease of 3.4% in the energy sector, leading to a market downturn.
Apple Inc. (NASDAQ 🙂 shares fell 2.1% after boosting markets a day earlier by 4% growth. Chip makers also dropped, with the Philadelphia chip index down 3%.
The biggest decline of the company was Macy's Inc. st, as it is greatly reduced to clearing excess inventory for the spring season.
Corvals Kohl & # 39; s Corp, Target Corp (NYSE 🙂 and Nordstrom Inc. (NYSE 🙂 slipped between 2.7% and 10.8%.
The emission reductions were superior to the number of advance employees by a ratio of 4.45 to 1 on the NYSE and by a ratio of 4.90 to 1 on the Nasdaq.
The S&P Index recorded eight new 52-week highs and 42 new lows, while the Nasdaq recorded 12 new highs and 172 new lows.
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