Dow slumps 800 points as bond yield spooks investors
The yield on the closely watched 10-year Treasury fell so low Wednesday that, for the first time since 2007, it briefly crossed a threshold that has correctly predicted many past recessions.
Global stocks rebound as China eases up on currency
The more buoyant tone follows a big sell-off Monday, when stocks were hammered after the Chinese government allowed its currency to depreciate against the dollar and was accused by the U.S. Treasury Department of being a currency manipulator.
China stabilizes currency but tensions with US remain high
The move came a day after Beijing sent financial markets tumbling by allowing the currency to fall to an 11-year low.
Dow Jones crosses 27,000 points, an all-time high
The Dow Jones Industrial Average climbed above 27,000 for the first time Thursday after a turbulent day on Wall Street left the market within striking distance of more milestones.
Federal Reserve Chairman Jerome Powell's comments before the Senate Banking Committee strengthened the message he had sent to a House panel on Wednesday that the central bank is prepared to cut interest rates to support economic growth.
Some trade jitters eased a bit Monday, at least in regard to the trade spat between the U.S. and Mexico.
The latest market slide comes as investors worry that the trade war between the U.S. and China will derail global economic and corporate profit growth as it drags on with no sign of a resolution.
Tariffs of 5 percent to 25 percent will take effect on June 1 on about 5,200 American products, including batteries, spinach and coffee, the Finance Ministry said.
The Dow Jones Industrial Average tumbled more than 470 points Tuesday as the U.S. and China moved closer to an escalation of their already costly trade war.
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