After new reports out of china showed the worlds secon largest economy is hurting and a separate report showed that germany isnt doing much better. That set thetone. Then our bond market gave the loudest signal of all, yields inverted. That means that shorter term treasuries paid out more than longer term treasuries, and that doesnt happen very often. But when it does, it has been a good predictor of recessions. Ulledthere investors money out of stocks today with the dow plummeting 800 points, it was the low of the day at 25,479. The nasdaq dropped by 242, the s p fell by 85. Technical. Of this is we know a lot of it is complex, but were going to do our best to try to explain it and describe how it could impact you. We begin with the market selloff and bob pisani at the new york stock exchan reporter the stock market is getting punched in the gut from all angles, including the bond market, which is now flashing warning signs of a possible recession. As it concerns yesterdays tariffs de
Divided hikes, with the swiss insurer targeting an eventual payout of 75 of its net profit. Donald trump prepares to meet his first foreign leader, japanese Prime Minister shinzo abe, as the bank of japan goes on the defensive, buying jgbs in a bid to offset rising treasury yields. Good morning again. Welcome. Glad to have you with us for this next hour. We have lots going on. A packed show for you. Just giving you an indication of where europe is trading, we were called higher by the spread bettors before we opened an hour ago, hanging on to those gains, just over a tenth of a percent. Over night, the bank of japan conducting the bond buying, stopping jgb yields from highing higher this had an effect stateside and some rejigging of yields in europe. When it comes to some bigger movers out there, also just looking at some of the stock specifics, investec has been trading higher after reporting a solid set of first half earnings, similar for zurich. Ahold trading lower after weakness in