U.S. stocks sold off Tuesday amid growing fears that the economy is headed for a hard landing. Disappointing data, from consumer confidence and International Monetary Fund's macroeconomic projections, reinforced the negative narrative.
U.S. stocks sold off Tuesday during regular trading hours as growing fears that the U.S. economy is headed for a hard landing soured the mood. Disappointing data, from consumer confidence to the International Monetary Fund's macroeconomic projections, reinforced the negative narrative, leading investors to head for the exits. Against this backdrop, the S&P 500 plunged 1.
Earlier today, the IMF sharply downgraded the global outlook, calling it"gloomy and more uncertain" and warning that the world economy could soon be on the brink of recession amid skyrocketing inflation, a worse-than-expected slowdown in China, the fallout from geopolitical conflict in Ukraine and tightening financial conditions.
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