TELETRADER News
3/25, 9:01 PM (Source: TeleTrader)
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Wall Street ends mostly lower amid economic fears

US stock markets closed mostly in the red on Monday as traders digested news about the global economic slowdown after the yield curve inverted for the first time in more than ten years on Friday, signaling a potential recession. Furthermore, investors reacted to President of the Federal Reserve Bank of Philadelphia Patrick Harker's comments, who said that the United States retains a positive economic outlook and announced that, at most, one more rate hike should be conducted in 2019. Meanwhile on the tech front, Apple Inc. hosted its spring event, announcing several services such as Apple News+, Apple Card as well as a bundle of video games called Apple Arcade. During the event, Apple's shares dropped nearly 2%.

The Dow Jones Industrial Average ended the session 0.06% in the positive territory helped by Boeing's shares jumping 2.29%.

The Nasdaq 100 dropped 0.12% at the close as Fox Corp dipped 3.31%.

The S&P 500 declined 0.08% as Fox Corp and Philip Morris International shares dropped 3.31% and 3.18%, respectively.

The euro gained 0.07% against the US dollar, to sell for 1.1311 at 4:00 pm ET, while the British pound lost 0.10% against the greenback, to go for 1.3197 at the same time.

Breaking the News / GG