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Direct: US stock indexes fell early on Monday as the Dow lost 200 points, fearing that the ongoing trade dispute between Washington and Beijing would push the global economy and the US into recession.
Goldman Sachs has cut estimates of US economic growth with increasing probability that the trade war will lead to a recession.
Bank of America also predicted today that the chances of a recession in the next 12 months would increase by more than 30%, as many economic indicators seem to turn on the yellow light.
The escalation of the trade war between Washington and Beijing last week shook the financial markets. The industrial index has lost more than 0.7% of its value. Most of the major indices on August 5th had their worst performance this year.
China has set today for the third time in a row the benchmark rate of the currency above 7 yuan per dollar, a decision that could cause confusion among trade frictions.
At 13:32 GMT, the Dow Jones Industrial Average was down 0.8%, or 208 points, to 26,078.7.
The Standard & Poor's 500 index fell 0.6% to 2,900.4 points, while the Nasdaq index fell 0.6% to 7,910.1 points.
During this period, the US dollar depreciated against the euro by more than 0.1%, bringing the single European currency to 1.1216 dollar.
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