S&P 500 and Treasury Yields Drop as Recession Worries Intensify Amidst Soft Data

U.S. stocks lost ground on Wednesday and Treasury yields extended their decline as a batch of data fueled worries that restrictive central bank policies could push the global economy into recession.

The S&P 500 (.SPX) closed in negative territory, and megacap momentum stocks (.NYFANG) dragged the tech-heavy Nasdaq down more than 1%, while defensive stocks helped keep the Dow modestly green.

The 10-year Treasury yield slid further to a near seven-month low.

Source : S&P 500 and Treasury Yields Drop as Recession Worries Intensify Amidst Soft Data