The S&P 500 Index was down 2.3% early Monday afternoon, recovering from the worst of a hair-raising morning drop, while the technology heavy Nasdaq composite fell 2.95% in midday trading and the Dow Jones index lost 1.9% after global markets plunged over worries about a possible recession in the world’s biggest economy.
Driving the rout: Sharp declines in high-flying tech stocks including Nvidia, Apple, Amazon and Google. As investors ran to buy U.S. treasuries, mortgage rates declined, opening the door for some borrowers to refinance, experts said.
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How likely is a recession?
While some economists say current market conditions raise the risk of a recession within the next 12 months, others are downplaying concerns.
