US Stocks Fall - Experts predict Recession

World | December 20, 2022, Tuesday // 09:44|  views

Shares on Wall Street fell amid a gloomy mood among investors, AFP reported. More experts are predicting a recession and markets await key economic data and earnings later in the week.

Market watchers pointed to continued concern over interest rate hikes by central banks.

More and more analysts are also predicting a decline in corporate profits in the coming quarters.

Oxford Economics' "baseline" forecast "now projects a global recession starting in the fourth quarter of 2022 and featuring three consecutive quarters of negative growth in global GDP per capita," the consultancy said in a statement.

The industrial index Dow Jones Industrial Average ended with a decrease of 0.5% at the level of 32,757.54 points.

The broad-based S&P 500 fell 0.9 percent to 3,817.66, and the technology-heavy Nasdaq Composite dropped 1.5 percent to 10,546.03.

Large tech stocks were generally lower, including Amazon down 3.4% and Meta down 4.1%.

This week's calendar includes data on durable goods and housing starts, as well as earnings from FedEx and Nike.

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Tags: US, stocks, recession, index


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