GLOBAL MARKETS-Wall Street slips, crude slides as weak data feed recession jitters
Wall Street see-sawed and crude prices plunged on Monday as world factory data showed demand weakening under inflation pressures, while the looming possibility of recession curbed risk appetite. All three major U.S. indexes were last modestly lower on the first day of August, coming on the heels of the S&P 500's and the Nasdaq's biggest monthly percentage gains since 2020. The Institute for Supply Management's (ISM) purchasing managers' index (PMI) showed U.S. factory activity decelerated in July to its lowest level since August 2020, but remained in expansion territory and long-running supply restraints appeared to be easing.
Published:8/1/2022 2:23:03 PM