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8/14, 10:00 PM (Source: TeleTrader)
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Dow tumbles 800 pts at close amid growing recession concerns

Trading on Wall Street concluded with an intense selloff on Wednesday after the bond market signaled a possible recession earlier in the day. Recession fears were triggered by a brief inversion of the yield curve as yields on longer-term US government debt fell below short-term rates. The occurrence preceded each of the past seven recession in the US, including 2007's so-called Great Recession.

The Dow Jones Industrial Average dropped just over 800 points at the end of the session. Dow Inc, the Walgreens Boots Alliance, Goldman Sachs and JPMorgan Chase led the losses. Meanwhile, the S&P 500 tanked 2.93% as Macy's plummeted over 13% following the company's disappointing quarterly earnings. The Nasdaq 100 tumbled 3.08% with Mylan plunging 8.52% after being accused by lawmakers of "coordinated obstruction" of a generic drug prices investigation.

Breaking the News / JC