Dow Jones Industrial Tumbles 800 Points, Oil Prices Drop – Fourth Largest Daily Point Drop on Record

By  //  August 14, 2019

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ABOVE VIDEO: Dow plunges 800 points amid recession fears

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) – Stocks and oil prices plummeted Wednesday, with the Dow Jones Industrial tumbling 800 points — the fourth largest daily point drop on record and the worst this year — as increasing global recession fears drove Wall Street investors to the safety of U.S. government debt.

The yield, or interest rate, of the Treasury’s 2-year note exceeded the yield on the 10-year Treasury, an ominous signal, known as an inverted yield curve, that a recession is on the way.

Feeding fears of a global recession was a report that Chinese industrial production was climbing at its weakest rate in 17 years and Germany’s economy — Europe’s strongest — was actually shrinking.

Gold, often seen as a haven for investor assets, settled 0.91 percent at $1,515.90, a 52-week high and the highest level in more than six years.

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