Dow Jones plunges 800 points on fears of looming recession

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New York, August 15 (RHC)– On Wall Street, the U.S. stock market took its largest single-day loss since October, with the Dow Jones dropping 800 points — or more than 3% — amid mounting fears that a recession may be around the corner. 

The drop in share prices came as Germany announced its economy contracted during the last quarter and as news emerged of a key economic indicator known as an “inverted yield curve” that has preceded the last seven U.S. recessions.