US STOCKS-S&P 500 erases big losses to end up; investors buy bargains, yields off lows
The S&P 500 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession. "The 10-year yield has come to represent all of the concerns about global growth at this very moment, so the stock market has latched onto it, like a kid to a lollipop. During the session, the premium on three-month Treasury bill rates over 10-year Treasury yields, a closely watched U.S. recession indicator, was at its most elevated levels since March 2007.
Published:8/7/2019 4:35:26 PM