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The Latest Breaking News from Recession

Recession fears and high inflation top this week’s big market events

Federal Reserve chair Jerome Powell has acknowledged that steep interest rate hikes could tip the US economy into recession.

The New Daily

UK economy ‘running on empty’ as post-pandemic order books dry up

Business confidence slumps to level that typically signals imminent recession, warns economist

The Guardian - UK

In tightknit El Monte, the killing of two cops reinforces a deep sense of community

During the Great Recession a decade ago, El Monte was in danger of losing much of the ground it had gained.

Los Angeles Times

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Rishi Sunak warned ‘recession is the new enemy’ as sky-high inflation hits millions

Rishi Sunak was warned on Thursday that “recession is the new enemy” as sky-high inflation hits millions of families and many businesses.

Evening Standard

Markets Fluctuate, Oil Falls again as Recession Warnings Build

Asian markets struggled Thursday to recover from the previous day's battering, while oil extended losses, after Federal Reserve boss Jerome Powell admitted the economy could tip into recession as the bank hikes interest rates to fight runaway inflation. Soaring prices and central banks' battle to rein them in have sent…

Asharq Al-Awsat

Asian stocks higher after Wall St declines on growth worries

Asian stock markets are mostly higher after the Federal Reserve chairman said the U.S. central bank wants to avoid causing a recession but one is possible as it raises interest rates to cool surging inflation

The Independent UK

Oil Falls More Than 2% as Investors Weigh Recession Risk

Oil prices continued to pull back on Thursday, dropping more than 2% as investors recalibrated assessments of recession risks and fuel demand amid interest rate hikes in major economies. US West Texas Intermediate (WTI) crude futures had skidded $2.6, or 2.7%, to $103.46 a barrel by 0330 GMT. Brent crude…

Asharq Al-Awsat

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Bitcoin, Ethereum, Dogecoin Slip: Fed's Powell Stirs Recession Fears, But Is Crypto Selloff Showing 'Exhaustion?'

Bitcoin, Ethereum and major coins traded lower on Wednesday evening as the global cryptocurrency market cap slipped 2.1% to $887.6 billion at press time.

Benzinga

ASX rises, Wall Street slips as Jerome Powell says US recession is a 'possibility'

The Australian share market edges higher, while Wall Street falls slightly after the US Federal Reserve chairman Jerome Powell tells a Senate committee that a “soft landing” for the US economy will be difficult.

ABC News

JP Morgan Analyst Lowers Price Targets On These 4 Popular REITs As Recession Fears Rise

JPMorgan Chase & Co. (NYSE: JPM) is slashing price targets on four popular real estate investment trusts (REITs) as recession fears continue to weigh heavily on the market.

Benzinga

3 Worst-Performing Dow Jones Stocks In June

Worries over surging inflation, the Fed’s hawkish tilt, and growing odds of a recession weighed on investor sentiment, pushing the Dow Jones Industrial Average index into bear territory. Amid the risk-off environment, Dow Jones stocks Dow Inc. (DOW), Intel (INTC), and Chevron (CVX) are the worst performers so far this…

StockNews.com

What It Means For US Stocks To Be In A Bear Market

Wall Street has officially fallen into a bear market as investor sentiment is hammered by soaring inflation, rising interest rates and worries about a looming recession in the world’s largest economy.

Benzinga

Powell says recession 'a possibility' but not likely

Federal Reserve chairman Jerome Powell vowed to bring inflation back down to 2%. Some lawmakers worry the Fed's efforts to control inflation could tip the economy into recession.

WEKU

Powell says soft landing ‘very challenging,’ recession possible

Federal Reserve Chair Jerome Powell gave his most explicit acknowledgment to date that steep rate hikes could tip the US economy into recession, saying one is possible and calling a soft landing “very challenging.”

Tribune News Service

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Axios

Fed chair says recession a "possibility" amid inflation battle

"It is not our intended outcome at all," Powell told lawmakers on Wednesday.

Los Angeles Times

Yes, a recession looks inevitable. But it may not be that bad. Here’s why

WASHINGTON — Whether it’s President Joe Biden insisting a recession is avoidable or his critics arguing that the wolf is at the door, both sides are acting as though the nation faces an unprecedented catastrophe.

StockNews.com

Now is a Great Time to Pick Up This Passive Income Stock

The surging inflation and the Fed’s efforts to tame it by aggressively hiking interest rates have led to many analysts forecasting a recession later this year. Investors must consider picking up stocks that generate passive income in an uncertain economic environment. Medtronic (MDT) recently announced an 8% increase in its…

The Guardian - UK

Without a proper plan, stagflation will be the least of Britain’s problems

Rising prices and recession mean the last thing the government should do is muddle through and leave everything to the market, writes economics editor Larry Elliott

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The Independent UK

Powell: Fed will decide on rate hikes 'meeting by meeting'

Federal Reserve Chair Jerome Powell underscored the Fed’s determination to raise interest rates high enough to slow inflation, a commitment that has fanned concerns that the central bank’s fight against surging prices could tip the economy into recession

Reuters

Could Germany keep its nuclear plants running?

Every domestic energy source, including nuclear power, is under consideration as Germany seeks to fuel its economy and ward off a recession considered likely if faltering Russian gas supplies stop completely.

StockNews.com

Which Stocks Should You Consider As Recession Hits Retail?

Retail companies have faced multiple headwinds of late, including multi-decade high inflation and persistent supply chain disruptions. With recession fears looming, many retail companies have lowered their guidance for the current year. However, not all stocks are expected to be weighed down by the recession. Kroger (KR) has raised its…

Asharq Al-Awsat

Kuwait Looks Forward to Invest in US Infrastructure

The Kuwait Investment Authority (KIA) is waiting for a further expected decline in global markets before deploying investments and believes that will be by the end of the year, Managing Director Ghanem al-Ghenaiman said on Tuesday. Speaking at the Qatar Economic Forum organized by Bloomberg in Doha, Ghenaiman said he…

Asharq Al-Awsat

Emir of Qatar Says Global Economy to Shrink by a Third

Emir of Qatar Sheikh Tamim bin Hamad Al Thani warned on Tuesday of a wave of global economic stagnation and inflation that the world has not seen in 45 years, citing a slowdown of growth in the global economy by about a third this year. Speaking at the opening of…

Bangkok Post

Bitcoin sinks again on recession fears

Bitcoin resumed a fall on Wednesday, moving in tandem with weakening stocks amid mounting concerns about a global recession.

The Guardian - AU

Morning mail: bid to halt $16bn gas project to protect Great Barrier Reef, questions over Barilaro job

Wednesday: Activists are seeking to put a stop to the Scarborough development in WA. Plus: Elon Musk warns of US recession

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