Stocks Down Due to Fear of Recession

Stock markets around the world have suffered on Thursday, in view of the US recession along with the concern over the financial health of European banks. All US, European and Asian stock markets are having lows and this in turn has favored safe assets like gold and the Swiss franc. After the volatile previous week, the market was stabilizing but things changed when the survey result from Federal Reserve Bank of Philadelphia came out. The factory activity was down by nearly minus two, compared to a positive 3.2 in July, which clearly suggests a recession in progress.

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Recession fears knock stocks