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Trading on wall street. The dow tumbled 750 points earlier today and has since broken through those lows. Now were testing them again. Investors fear the economy is headed toward a recession. Why . If you read anything about the markets today or watch the tv news at all, you probably heard about the yield curve inversion. Which is historically a sign that we could be headed toward a recession. Boils down to this. Some short term Bond Investments have started to pay more interests than longterm investments. That can happen for different reasons. Whether were headed for a recession may depend in part on why this is happening. How long it lasts. Think of it this way. In normal times, if you lend money to somebody for a long time, you get more interest than if you got your money back quickly. So a tenyear bond would bring your more yield than a twoyear bond. Thats normal times. Today is not normal. Normal is reversed now. Short term ....
Essentially have put residents of the relatively free city of hong kong under chinese criminal law. Local authorities in hong kong were considering a change that would have allowed for people in hong kong to be extradited to china to face the famously opaque chinese legal system. Theres about 7 Million People who live in hong kong. If you get 1 million or more people out in the streets protesting Something Like that . Out of 7 Million People who live in the whole city . That is a pretty statistically significant sample of the entire population of that territory. So i just cant get over these images. Were going to have more on these remarkable scenes out of hong kong coming up later on this hour. But the basic bottom line here is that this huge display, huge display of people power over the past weekend culminating in wee ....
All angles. I want to start on the ground in hong kong. Joining me now, nbc news Foreign Correspondent matt bradley. Tell us what has happened today and the context. Reporter this airport was filled with protesters for the better part of the last 48 hours. This afternoon the whole checkin area was clotted with protesters trying deliberately to prevent any passengers from coming in and registering for flights. It doesnt look like much now. This got really hot and then really cold all within a matter of about two hours. The whole thing was sparked when protesters thought they found a man who was a spy or a Police Officer from mainland china. They grabbed him, restrained him, and took some of his possessions. Some of the protesters are still now combing through some of his belongings trying to determine his identity. This has been going on for hours. They beat him, they s ....
Referendum makes a lot of investors nervous. The last time we saw this pattern in the bond market was right before the credit crisis that preceded a pretty big recession. This is why racing anxiety in both the bond market and the stock market. Yields on short treasuries as he mentioned the first time, since 2007 in plain english, people have more confidence in the longerterm economy than the shorterterm economy. Thats an unusual kind of pattern. Lets say you loan somebody money. In this case, we are talking about investors the government. But if you loan somebody money, you expect to get it back. If you voted for very long time, you probably expect to get more money back. Thats for the same with investors who loaned to the government. What we see is this a shift a pattern. Can you hear me . Sorry, harris. Harris go ahead. Thats why you are seeing the banks sell off as well, because their lending businesses hurts. Harris and lost little while, in the middle of the day we are seeing this ....
The United States and around the world. Im natalie allen. We come to you live from atlanta where its 5 00 in the morning. Thanks for watching. This is cnn newsroom. Thank you again for joining us. Our top story, north korea says it has carried out what state media calls a, quote, very important test at its sohae satellite launch site. We dont know what was tested, but they say it was a success and will change the strategic position of the country in the near future. Our will ripley jones us now with more about it. Of course will has made many trips to north korea over the years. Youve reported on the Nuclear Program and their missile program. Lets talk about how significant could this test be. What do we know . Reporter i think, natalie, this has the potential to be highly significant. Keep in mind, this is the 14th weapons test in the last 10 months, ever since the summit ta ....