Dow Jones Industrial Average falls 400 points after bond markets flash a troubling indicator of an impending recession.
Wall Street stumbled after the opening bell on Wednesday — the Dow Jones Industrial Average fell more than 400 points — after bond markets flashed a troubling indicator of an impending recession. The S&P 500 index fell by 1.3 percent, and the Nasdaq composite index opened with a decline of 1.7 percent.
When bond yields drop this low, it is a firm signal of the income appetite of investors, who shift towards less risky assets that do not expose them to market vulnerability. While the time frame from yield curve inversion to recession can vary — it has taken anywhere from two to six quarters after an inversion for a recession to occur — all of the past recessions have been preceded by inversions of the yield curve.
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