The threat of a recession doesn’t seem so remote anymore for investors in financial markets. Spooked investors sent the Dow Jones Industrial Average into an 800-point skid, its biggest drop of the year.
The S&P 500 index dropped nearly 3% as the market erased all of its gains from a rally the day before. Tech stocks and banks led the broad sell-off. Retailers came under especially heavy selling pressure after Macy’s issued a dismal earnings report and cut its full-year forecast.
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