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Below is a report that DML News gives a 4 OUT OF 4 STARS trustworthiness rating. We base this rating on the following criteria:

  • Provides named sources
  • Reported by more than one notable outlet
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  • Includes supporting video, direct statements, or photos

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As the most reliable and balanced news aggregation service on the internet, DML News App offers the following information published by CNBC:

Stocks plunged on Wednesday, giving back Tuesday’s solid gains, after the U.S. bond market flashed a troubling signal about the U.S. economy.

The Dow Jones Industrial Average dropped about 737 points or 2.6%, while the S&P 500 fell 2.5% and Nasdaq Compositedeclined 2.9%. The Dow fell to a new low for August, giving up the entire rebound from a sell-off earlier in the month.

The article goes on to state the following:

The yield on the benchmark 10-year Treasury note on Wednesday broke below the 2-year rate, an odd bond market phenomenon that has been a reliable indicator of economic recessions. Investors, worried about the state of the economy, rushed to long-term safe haven assets, pushing the yield on the benchmark 30-year Treasury bond to a new record low on Wednesday.

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