Major indexes end sharply lower amid U.S. recession fears; Apple declines
Major U.S. stock indexes ended sharply lower on Monday as U.S. recession fears gripped global markets, while Apple shares dropped as Berkshire Hathaway cut its stake in the company nearly in half.
Caroline Valetkevitch for Reuters:
The recession concerns followed weak economic data last week, including Friday’s soft U.S. payrolls report.
Shares of Apple fell after Berkshire Hathaway halved its stake in the iPhone maker. Billionaire investor Warren Buffett also let cash at Berkshire soar to $277 billion.
Nvidia, Microsoft, and Alphabet also slid, while the Cboe Volatility index, Wall Street’s “fear gauge,” rose sharply…
U.S. Treasury yields tumbled to their lowest level in a year and a closely watched gap between two- and 10-year Treasury notes turned positive for the first time since July 2022, usually indicating the economy is heading into a downturn.
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