Markets Slide Despite Mostly Positive Data; Yield Curve Continues Narrowing
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Markets continue to slide despite mostly positive economic data like higher home builder confidence, industrial production, and capacity utilization.
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The Dow, S&P 500, and Nasdaq all dropped between 0.25-0.59% today. The Russell 2000 is down 5.16% year-to-date.
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Bond yields are creeping up again, narrowing the yield curve inversion to just 0.15% - the smallest gap since July 2022.
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Slowing growth in China and global conflicts like Ukraine and the Middle East are concerning investors.
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Earnings results from Alcoa and Discover Financial missed or beat expectations but both companies' shares fell after hours. Key economic data awaits tomorrow.