VIDEO: Wall Street falls as recession fears grow
Wall Street main indexes dipped more than 2.5% on Wednesday, as U.S. bond market indicators pointed to recession risks. Analysts fear the possibility of a recession following poor economic data from Germany and China. The S&P 500 index has plummeted to 4.5% since President Trump announced a fresh round of tariffs on Chinese imports. The unveiling of the new tariffs at the start of August places the S&P on track for its worst 3-week percentage slide in 2019. Reuters reports that a brief recovery on Tuesday spurred by hopes that Washington would delay the tariffs evaporated on Wednesday.