Reuters: Dow posts biggest one-day drop since October as recession fears take hold
NEW YORK (Reuters) - Wall Street sold off sharply on Wednesday as recession fears gripped the market after the U.S. Treasury yield curve temporarily inverted for the first time in 12 years.
All three major U.S. indexes closed down about 3%, with the blue-chip Dow posting its biggest one-day point drop since October after 2-year Treasury yields surpassed those of 10-year bonds, which is considered a classic recession signal.
Dire economic data from China and Germany suggested a faltering global economy, stricken by the increasingly belligerent U.S.-China trade war, Brexit woes and geopolitical tensions.
Germany reported a contraction in second-quarter gross domestic product, and China’s industrial growth in July hit a 17-year low.
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MIDDLE EAST
Southern Yemeni separatists tell Saudi Arabia: evict Islah or lose the war.
'Scores' killed in Yemen as UAE-backed fighters seize parts of Aden.
Heavy clashes breakout between Syrian Army troops and Turkish-backed rebels in east Aleppo.
Syrian army reaches near major rebel bastion in Idlib. Regime forces advance towards key town in northwest Syria.
Iran warns that small but growing U.S. naval coalition in Strait of Hormuz raises the "risk of combustion".
Blast strikes military base in Baghdad.
Iran's Khamenei meets Yemen rebels after blow for Saudi coalition.
Kameel Ahmady: British-Iranian academic 'arrested in Iran'.
Jordan halts film that refers to historical Jewish presence.
ASIA
No concessions from China as Trump postpones some tariffs: U.S. officials.
Flights resume at Hong Kong airport as protesters apologize.
Hong Kong police fire tear gas as anti-government protesters gather outside Sham Shui Po station, pointing laser beams and chanting ‘black cops’ and ‘return the eye’.
Protests and trade war wipe $50 billion off Hong Kong real estate stocks.
China-US talks held by top diplomats Yang Jiechi and Mike Pompeo amid Hong Kong spat.
Kashmiri reporter finds fear, chaos in locked-down hometown.
Pakistan summons Indian diplomat amid heavy firing at border.
Pakistan asks U.N. Security Council to meet on Kashmir crisis.
Kashmir: Pakistan's Khan vows to 'fight until the end'.
Pakistani PM reiterates support to Kashmiris on Indian side.
Manila asks China to explain warships in PI waters.
Chinese survey ship returns to disputed waters claimed by Vietnam.
Korean wartime forced laborers still seeking apology, reparations from Japan.
India floods, landslides kill more than 270.
AFRICA
Suicide bomber 'kills 6' in Chad; including soldier.
Car bombs shake Somali military base, deaths reported.
Chad's President blames Libya and neighbors for tribal clashes in country, deploys 15,000 troops to border.
C.Africa militias abuse peace deal to tighten grip, say experts.
Fears of fresh unrest as Zimbabwe’s opposition plan protests.
S.Africa's show of force in Cape Town ganglands brings little relief.
Toll from Tanzania fuel truck blast rises to 82: hospital.
Malawi court sentences three to death over albino killing.
EUROPE
With 78 days to Brexit, British parliament ready to take on PM.
UK Labour leader lays out plan to stop a no-deal Brexit.
Moscow court ruling won't end the growing protests in Putin's Russia, analysts say.
No chance of US-UK deal if Northern Ireland peace at risk – Pelosi.
Kremlin says spies watching Russian scientists '24/7'.
German economy shrinks, now 1 step from new recession.
In new migrant standoff, Italy's Salvini blocks two NGO boats.
Denmark mulls tighter border checks with Sweden after Copenhagen bombing.
Climate change poster girl Greta Thunberg, 16, sets sail for New York in two-week Atlantic crossing to attend UN global warming conference.
AMERICAS
Ethics commissioner finds Canada PM Trudeau violated ethics.
Several police officers shot in Philadelphia.
Jeffrey Epstein accuser Jennifer Araoz sues Ghislaine Maxwell, 3 Epstein staffers.
Democratic contenders unload on news media.
FBI investigating after shots fired at ICE offices in San Antonio.
President-elect says Guatemala can't do migrant deal with US.
Argentina's Macri unveils economic 'relief' measures after poll shock.
Colombia sees new migrant wave from Venezuela amid US sanctions.
Thousands protest in Brazil against Bolsonaro's education cuts.
TERRORISM/THE LONG WAR
Al-Shabab attacks Somali military base; casualties reported.
Iraq rejects Pentagon’s report claiming 14,000 ISIS fighters’ present in Iraq, Syria.
FBI seeking to question alleged al-Qaeda operative in Brazil.
ECONOMY/FINANCE/BUSINESS
Dow slumps 800 points after bonds flash recession warning.
5 of the world's biggest economies are at risk of recession.
From Samsung to Swarovski, big brands face backlash in China.
Ex-Fed boss Greenspan says ‘there is no barrier’ to Treasury yields falling below zero.
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