New York equities: Recession fears push Dow to lows since late 2020

“Rising interest rates, growing pain,” concluded Jürgen Molnar, capital markets strategist at Robomarkets. With the prospect of two more rate hikes by the end of the year, the US Federal Reserve catapulted 10-year government bond yields to their highest level in eleven years. This makes the shares less attractive. “Investors are facing a turnaround in interest rates at an unprecedented pace and are staying away from the stock market,” Molnar wrote.

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