Wall Street’s main indexes slid 1.5% today as a closely monitored U.S. bond market indicator indicating a new risk of recession after the weak economic data.
The Nasdaq Composite fell 180 points, or 2.3%, to 7,835. The biggest loser of the S&P 500 index was Macy’s Inc, which dropped 17.2% after the department store operator reduced its full-year profit expectations.
U.S. import prices unexpectedly jumped in July, but the underlying trend continued to be weak.
The report from the Labor Department on Wednesday implied that inflation could remain moderate despite a large increase in consumer prices last month.
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