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U.S. Stocks Fall as Fears of Economic Slowdown Return

Stock Markets Sep 29, 2022 10:48AM ET
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By Liz Moyer

Investing.com -- U.S. stocks are falling amid recurring fears about aggressive actions by central banks to curb inflation.

At 10:43 ET (14:43 GMT), the Dow Jones Industrial Average was down 530 points, or 1.8%, while the S&P 500 was down 2.3% and the NASDAQ Composite was down 3.2%.

After rebounding on Wednesday, stocks were again pressured by investors who fear a global slowdown. Tech stocks slid the most as yields on Treasurys ticked higher again. 

The economy recovered from the pandemic stronger than initially understood, according to Commerce Department revisions of gross domestic product readings.

GDP rose 5.9% last year, the department said. That was revised up from the earlier reading of 5.7%.

Meanwhile, the labor market continues to show its resilience. The number of Americans filing new jobless claims last week fell to 193,000, beating expectations even as the Federal Reserve raises interest rates to slow demand.

Airline stocks were under pressure as Hurricane Ian in Florida forced the cancellation of thousands of flights to and from the state. Shares of American Airlines Group (NASDAQ:AAL) fell 3.6%, while shares of United Airlines Holdings Inc (NASDAQ:UAL) fell 3% and shares of Southwest Airlines Company (NYSE:LUV) fell 1.9%.

Oil was falling. Crude Oil WTI Futures was down 0.3%, to $81.87 a barrel, while Brent Oil Futures crude was down 0.3% to $87.82 a barrel. Gold Futures was down 0.7% to $1658.

U.S. Stocks Fall as Fears of Economic Slowdown Return
 

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Comments (35)
Tom Michaels
Tom Michaels Sep 29, 2022 12:32PM ET
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waa,waa,waa, excuse da jour. enough of this manipulation.
Ferdinando Riboni
Ferdinando Riboni Sep 29, 2022 12:24PM ET
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the international Multinational Corporations are making $$
Kerry Ditto
Kerry Ditto Sep 29, 2022 11:52AM ET
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or market embarks on superrally today. whatever the case, let it be
Kerry Ditto
Kerry Ditto Sep 29, 2022 11:45AM ET
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probably flat close today. then it would stay at current level till end of year. that is what they call soft landing.
Brad Albright
Brad Albright Sep 29, 2022 11:45AM ET
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Wrong.
Gilbert Roy
Gilbert Roy Sep 29, 2022 11:32AM ET
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Good news from me I'm happy to say that I'm one of those people who profit from trading, I just made an extra $7,500 from a $450 investment. I recommended her, she is Sarah Anderson 💥 0n 🅕🅐🅒🅔🅑🅞🅞🅚💥 for a reliable trading signal she's genuine ✅
Kantilal Patel
Kantilal Patel Sep 29, 2022 11:11AM ET
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In 1 day recession fear goes away and then on the next day its back agsin. Whether their expert on Financial Market are not that much competent? Day and day out,they changing their views.
Mahesh Gosavi
Mahesh Gosavi Sep 29, 2022 11:11AM ET
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very true… mighty few are taking everyone for ride… Short selling is rampant .. By end of the day ( thursday ) you may see market erasing all its losses..
Kantilal Patel
Kantilal Patel Sep 29, 2022 11:11AM ET
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In 1 day recession fear goes away and then on the next day its back agsin. Whether their expert on Financial Market are not that much competent? Day and day out,they changing their views.
Kantilal Patel
Kantilal Patel Sep 29, 2022 11:11AM ET
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In 1 day recession fear goes away and then on the next day its back agsin. Whether their expert on Financial Market are not that much competent? Day and day out,they changing their views.
Kevin Parker
Kevin Parker Sep 29, 2022 11:08AM ET
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Well we're really just returning to levels before the pandemic... It's not like the economy magically doubled in size while everyone sat at home... Govenment debts did.
Ka Sh
Ka Sh Sep 29, 2022 10:55AM ET
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In 1 day recession fear goes away and then on the next day its back again.
Sumit Das
Sumit Das Sep 29, 2022 10:55AM ET
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all these are game of big players ..scare the retailers..actually I don't see a difference between stock market and gambling..
rajesh vairale
rajesh vairale Sep 29, 2022 10:55AM ET
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it's game
Jose Maria Orti Bueno
Jose Maria Orti Bueno Sep 29, 2022 10:55AM ET
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Yes, big players manipulate the market like they want. As you say, this is a Casino.
 
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