London Daily

Focus on the big picture.
Monday, Oct 06, 2025

S&P 500 sees 5th straight decline as recession fears weigh on US stocks

S&P 500 sees 5th straight decline as recession fears weigh on US stocks

The Nasdaq Composite notched a fourth straight loss as major banks sound the alarm on recession worries.

US stocks largely finished in the red Wednesday, ending a topsy-turvy session amid worries that the US and economies worldwide are sliding into recession. 

The S&P 500 notched its fifth consecutive losing session with eight of its 11 sectors moving lower, led by the communications services group. The Nasdaq Composite marked a fourth straight loss, while the Dow industrials ended flat. Among individual stocks, Carvana sank on rising bankruptcy concerns. 

Wall Street banks and CEOs including JPMorgan boss Jamie Dimon in recent days have told investors to prepare for sharp stock losses next year and for recessions to sweep across major economies. Growth worries were exacerbated Wednesday by weak Chinese trade figures even as Beijing continued to roll back its zero-COVID policy measures related to quarantines and testing. 

Here's where US indexes stood at the 4:00 p.m. closing bell on Wednesday: 

*  S&P 500: 3,933.92, down 0.19%

*  Dow Jones Industrial Average: 33,597.92, 0.00% (1.58 points)

*  Nasdaq Composite: 10,958.55, down 0.51%

"Our baseline view is a weakening economy, diminished consumer activity and corporate profit challenges while inflationary pressures promote higher interest rates than recent experience," Tom Hainlin, global investment strategist at US Bank Wealth Management, wrote in emailed comments. "Next week's updated Summary of Economic Projections (SEP) will provide an important overlay of Fed vs. market-based inflation and interest rate expectations." 

Here's what else is happening today:


*  Binance's CEO called FTX's Sam Bankman-Fried "one of the greatest fraudsters in history."

*  A growing pile of hidden debts could shock markets, warned the Bank for International Settlements.

*  Goldman Sachs boss David Solomon sees just a 35% chance the Fed avoids a recession.

*  DoubleLine Capital CEO Jeff Gundlach called the Federal Reserve's plan to raise interest rates further questionable because policy makers will likely end up reversing those hikes sooner rather than later. 

*  An ongoing drop in response rates for popular economic surveys could call into question the reliability of forecasts made by the Federal Reserve, said Fundstrat's Tom Lee.

In commodities, bonds, and crypto:


* West Texas Intermediate crude fell 2.9% to $72.30 per barrel. Brent crude, the international benchmark, rose 0.2% to $77.35.  

*  Gold gained 1% to $1,800 per ounce. 

*  The 10-year Treasury yield fell 18 basis points to 3.42%.

*  Bitcoin fell 1% to $16,833.04.

Newsletter

Related Articles

0:00
0:00
Close
OpenAI and AMD Forge Landmark AI-Chip Alliance with Equity Option
Munich Airport Reopens After Second Drone Shutdown
France Names New Government Amid Political Crisis
Trump Stands Firm in Shutdown Showdown and Declares War on Drug Cartels — Turning Crisis into Opportunity
Surge of U.S. Billionaires Transforms London’s Peninsula Apartments into Ultra-Luxury Stronghold
Pro Europe and Anti-War Babiš Poised to Return to Power After Czech Parliamentary Vote
Jeff Bezos Calls AI Surge a ‘Good’ Bubble, Urges Focus on Lasting Innovation
Japan’s Ruling Party Chooses Sanae Takaichi, Clearing Path to First Female Prime Minister
Sean ‘Diddy’ Combs Sentenced to Fifty Months in Prison Following Prostitution Conviction
Taylor Swift’s ‘Showgirl’ Launch Extends Billion-Dollar Empire
Trump Administration Launches “TrumpRx” Plan to Enable Direct Drug Sales at Deep Discounts
Trump Announces Intention to Impose 100 Percent Tariff on Foreign-Made Films
Altman Says GPT-5 Already Outpaces Him, Warns AI Could Automate 40% of Work
Singapore and Hong Kong Vie to Dominate Asia’s Rising Gold Trade
Trump Organization Teams with Saudi Developer on $1 Billion Trump Plaza in Jeddah
Manhattan Sees Surge in Office-to-Housing Conversions, Highest Since 2008
Switzerland and U.S. Issue Joint Assurance Against Currency Manipulation
Electronic Arts to Be Taken Private in Historic $55 Billion Buyout
Thomas Jacob Sanford Named as Suspect in Deadly Michigan Church Shooting and Arson
Russian Research Vessel 'Yantar' Tracked Mapping Europe’s Subsea Cables, Raising Security Alarms
New York Man Arrested After On-Air Confession to 2017 Parents’ Murders
U.S. Defense Chief Orders Sudden Summit of Hundreds of Generals and Admirals
Global Cruise Industry Posts Dramatic Comeback with 34.6 Million Passengers in 2024
Trump Claims FBI Planted 274 Agents at Capitol Riot, Citing Unverified Reports
India: Internet Suspended in Bareilly Amid Communal Clashes Between Muslims and Hindus
Supreme Court Extends Freeze on Nearly $5 Billion in U.S. Foreign Aid at Trump’s Request
Archaeologists Recover Statues and Temples from 2,000-Year-Old Sunken City off Alexandria
China Deploys 2,000 Workers to Spain to Build Major EV Battery Factory, Raising European Dependence
Speed Takes Over: How Drive-Through Coffee Chains Are Rewriting U.S. Coffee Culture
U.S. Demands Brussels Scrutinize Digital Rules to Prevent Bias Against American Tech
Ringo Starr Champions Enduring Beatles Legacy While Debuting Las Vegas Art Show
Private Equity’s Fundraising Surge Triggers Concern of European Market Shake-Out
Colombian President Petro Vows to Mobilize Volunteers for Gaza and Joins List of Fighters
FBI Removes Agents Who Kneeled at 2020 Protest, Citing Breach of Professional Conduct
Trump Alleges ‘Triple Sabotage’ at United Nations After Escalator and Teleprompter Failures
Shock in France: 5 Years in Prison for Former President Nicolas Sarkozy
Tokyo’s Jimbōchō Named World’s Coolest Neighbourhood for 2025
European Officials Fear Trump May Shift Blame for Ukraine War onto EU
BNP Paribas Abandons Ban on 'Controversial Weapons' Financing Amid Europe’s Defence Push
Typhoon Ragasa Leaves Trail of Destruction Across East Asia Before Making Landfall in China
The Personality Rights Challenge in India’s AI Era
Big Banks Rebuild in Hong Kong as Deal Volume Surges
Italy Considers Freezing Retirement Age at 67 to Avert Scheduled Hike
Italian City to Impose Tax on Visiting Dogs Starting in 2026
Arnault Denounces Proposed Wealth Tax as Threat to French Economy
Study Finds No Safe Level of Alcohol for Dementia Risk
Denmark Investigates Drone Incursion, Does Not Rule Out Russian Involvement
Lilly CEO Warns UK Is ‘Worst Country in Europe’ for Drug Prices, Pulls Back Investment
Nigel Farage Emerges as Central Force in British Politics with Reform UK Surge
Disney Reinstates ‘Jimmy Kimmel Live!’ after Six-Day Suspension over Charlie Kirk Comments
×