Stock Market Sell-Off and Disappointing Economic Data Raises Prospect of Pre-Election Recession
A stock market sell-off and some disappointing economic data has raised the prospect of a recession in the run-up to November’s all-important presidential election.
In what could prove to be a disaster for Kamala Harris’s campaign against Donald Trump, investors are increasingly concerned that Biden’s disastrous premiership could conclude with an economic downturn as Democrats seek to keep control of both the White House and both Houses of Congress.
CNBC reports:
The Dow dropped 494.82 points, or 1.21%, to end at 40,347.97. At its session lows, the 30-stock index lost 744.22 points, or about 1.8%. The S&P 500 shed 1.37% to end at 5,446.68, while the Nasdaq Composite slipped 2.3% to 17,194.15.
