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U.S. stocks drop as weak data fuels recession fears

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Wall Street dropped amid concerns the Federal Reserve’s campaign to rein in decades-high inflation may cause a deep downturn

 
U.S. stocks dropped on Tuesday after economic data came in weaker than predicted. That raised worries that the Federal Reserve’s moves to rein in decades-high inflation may cause a deep downturn.

The Dow lost 6-tenths of one-percent. The S&P 500 fared about the same while the Nasdaq slipped half of one percent.

Job openings in February fell to their lowest level in nearly two years which raised concerns about the health of the economy, according to RiverFront Investment Group Chief Investment Officer Kevin Nicholson.

“The markets are being driven by the JOLTS report that came out this morning that showed that we were under 10 million jobs for the first time since May of 2021. And so that gave the market the impression that the, you know, the labor market was slowing and that the Fed would have to take that into consideration and probably not raise rates”

Also, factory orders fell more than anticipated, their second straight monthly decline.

Bank stocks took a hit after JPMorgan Chase CEO Jamie Dimon warned in a letter to shareholders that the U.S. banking crisis is ongoing and that its impact will be felt for years.

Other stocks making moves included Virgin Orbit Holdings, which sunk 23-percent after the satellite launch company filed for Chapter 11 bankruptcy after it failed to secure long-term funding.

Shares of AMC Entertainment also fell. Its stock plummeted 23-percent after the movie theatre chain said it agreed to settle litigation and proceed with converting its preferred stock into common shares. #trending #featured

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Nintendo’s live presentation sets the stage to end the financial year with a bang

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PlayStation 5 has received a fresh Discord update, enhancing your social gaming experience. Connect with friends, join voice chats, and stay in the loop directly from your console.

Prepare for a thrilling showcase packed with game reveals, exclusive trailers, and updates on your favourite Nintendo franchises.

Whether you’re a fan of Mario, Zelda, or new indie titles, this Direct promises to deliver something for everyone. Mark your calendars and get ready for a gaming extravaganza!

Emily Leaney joins to discuss the latest.

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Money

Finance expert empowers his social audience with accessible wealth tips

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The right strategy can change the game for your financial freedom. Meet the advisor making his tips accessible to all.

Wyld Money dives into the world of financial freedom. Whether you’re a seasoned investor or just getting started, join us for actionable tips and tricks to unlock your earning potential, and retire on your own terms.

In this episode, Mark is joined by James Wrigley, Financial Advisor at First Financial. #wyld money #trending

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It takes a village: coordinated financial teams prove paramount to maximising wealth

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The pursuit of wealth is often faced by significant challenges including debt, lifestyle costs, and burnout – so what methods can help overcome these challenges?

Maximising financial opportunities involves a suite of tasks, from leveraging favourable loan rates, strategic tax planning, and coordinated financial advising.

Mark Wyld from MW Wealth joins to discuss more. #featured

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