London Daily

Focus on the big picture.
Saturday, Aug 22, 2026

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
The rise and fall of Hui Ka Yan, China’s richest man
Woke: Britain Considers Plain Packaging for Cigars as Specialist Shops Warn of Industry Collapse
Britain's Public-Service Productivity Remains Below 2019 as £80 Billion Output Gap Fuels WFH Debate
Mandelson Epstein Case in Jeopardy as U.S. Files Stay Out of Reach
Prince Harry and Six Others Ordered to Pay £9.5 Million After High Court Defeat
Bank of England Holds Interest Rate at 3.75% as Inflation and Energy Risks Persist
UK AI Security Tests Find Autonomous Agent Attempting Malicious Code Injection
UK Economy Grows 0.4% in Second Quarter Amid Global Pressures
UK Joins European Allies in Condemning Israeli Settlement Plans in West Bank E1 Area
Multiple People Killed in A66 Collision Near Middlesbrough Involving Police Vehicle
UK Government Holds First National Day for Victims and Survivors of Terrorism
UK Met Office Warns of Severe Autumn Storms as Strong El Niño Follows Historic Drought
Petrol Bombs Set Luxury Cars Alight Outside Birmingham Wedding as Police Hunt Three Men
Bitcoin Surges Toward $80,000 as Short Squeeze and ETF Inflows Ignite Crypto Rally
Prince Harry and Co-Claimants Ordered to Pay £9.5 Million Toward Daily Mail Publisher’s Legal Costs
Prince Harry and Meghan Markle Reportedly Plan Return to Britain With Their Children
UK Court Ruling Threatens Deportation Plans for Potential Trafficking Victims to Albania
Kemi Badenoch Presses UK Government for Decisions on Rosebank and Jackdaw Oil Fields
UK Foreign Affairs Committee Chair Calls for Ban on Goods from Occupied West Bank
Andy Burnham Government to Place Civil Servants Directly in English Mayoral Offices
Met Office Warns Major El Niño Could Bring Stormier, Wetter Autumn to UK
UK Economy Gains Unexpected Momentum Ahead of Andy Burnham Government’s First Budget
Twenty-Nine US States Take Meta to Trial Over Alleged Child Addiction on Instagram and Facebook
Former Scottish National Party Executive Peter Murrell Jailed for Five Years Over £400,000 Embezzlement
Moderna and Merck's Personalized Cancer Vaccine Succeeds in Historic Late-Stage Melanoma Trial
Prince Harry and Meghan to Move Back to Britain With Their Children
England and Wales Have Fewer Than 1,800 Prison Places Left for Men
Royal Navy to Accelerate DragonFire Laser Deployment Against Growing Drone Threat
Northern Ireland Approves Five Hundred Million Pound Belfast Harbour Expansion
Great British Railways Takes Full Control of Avanti West Coast as Rail Nationalisation Reaches Final Stage
UK AI Safety Institute Calls for Mandatory Security Audits of Advanced AI Models
Scotland Secures Three Billion Pounds for Floating Offshore Wind Hub in Aberdeen
Government Overrides Local Councils to Approve Green Belt Housing Across Southern England
UK and EU Move Toward Mutual Recognition of Food Standards to Ease Cross-Channel Trade
Government Plans Multibillion-Pound Private Healthcare Expansion to Cut NHS Surgical Backlogs
Bank of England Signals Faster Rate Cuts as Inflation Falls Below the Two Percent Target
Suspected People Smuggler Arrested After Investigation Identified Him
Children's Doctors Warn That Vaping Can Lead Young People to Smoking
Hundreds of Thousands of Students Receive GCSE and Vocational Results Across England, Wales and Northern Ireland
Here Is What Can Never Happen in Your Country: Taiwan Is Giving Money to All Its People Because It Collected Too Much Tax
UK Inflation Rises to 2.9% as Energy Bills Jump
UK Issues New Conduct Guide for Asylum Seekers on Consent and Respect
Moderna Shares Surge After Positive Personalized Skin Cancer Trial Results
UK Markets Watch US National Debt Surpass Forty Trillion Dollars
UK Broadcasters Urge Government to Invest in Digital Participation and Broadband
CVC Capital Partners and Standard Life Launch Two Billion Pound Pension Risk Transfer Venture
UK Private Sector Productivity Growth Accelerates in Second Quarter
UK Foreign Secretary Ed Miliband Condemns Israeli E1 Settlement Tender
UK Watchdog Investigates Trainline, Virgin Atlantic and RED Driving School Over Hidden Fees
Prince Harry and Meghan Markle Plan Move to Private Home Outside London
×